114 West 47th Street
23rd Floor, New York, NY 10036
phone: 1.212.843.6100 | fax: 1.212.843.6120
www.recp.com

Real Estate Capital Partners Purchases Second Cargill Office Building on Behalf of German Fund

Real Estate Capital Partners has acquired the second building at Excelsior Crossings in Hopkins, Minnesota, on behalf of its client, IVG Institutional Funds GmbH.  
 
When fully developed, Excelsior Crossings will be a three-building, 750,000 square foot office campus. Cargill, an international provider of food, agricultural and risk management products, is occupying the Excelsior Crossings complex as a primary campus for their company.  The newly acquired building is a Class A+, LEED-certified office building, 7 stories in height, totaling 256,000 rentable square feet. Cargill will lease 100% of the building, which is slated for completion in July 2009, through September 2020.
 
“We are pleased to have added this second Cargill building to our client’s portfolio. Opus always builds a fine property and this location is important for the tenant,” said Michael Fruchtman, Director of Commercial Investments for Real Estate Capital Partners.    
 
Real Estate Capital Partners acquired the first building at Excelsior Crossings, also 100% leased by Cargill, for IVG in December 2007.
 
Excelsior Crossings is being developed and was sold by Opus Northwest, a regional subsidiary of the Opus Corporation.  Tom Holtz and Steven Buss of CB Richard Ellis represented the seller.