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City Center Realty Partners Acquires 320,000 Square Foot Office Building in Downtown Minneapolis

  City Center Realty Partners Acquires 320,000 Square Foot Office Building in
  Downtown Minneapolis

Business Wire

SAN FRANCISCO -- February 21, 2013

City Center Realty Partners, LLC (CCRP), a San Francisco-based real estate
investor and developer, in a partnership with Angelo, Gordon & Co. today
announced its acquisition of a 320,000 square foot office building in downtown
Minneapolis. The office building occupies floors 18-36 of the Plaza Seven
mixed-use tower located in the Nicollet Mall corridor and connected to the
city’s skyway system. The acquisition includes the building’s heated
underground garage with 315 parking spaces.

The property at 45 South Seventh Street represents CCRP’s third asset in
Minneapolis and the latest addition to the company’s national portfolio. Its
other properties in the city are the 350,000 square foot TractorWorks building
and the former Superior Plating site, a five and a half-acre parcel of land
acquired last June.

“City Center Realty Partners is thrilled to add this prime property to our
growing portfolio of assets throughout the country,” said Sigurd Anderson,
Founding Partner with CCRP.

City Center Real Estate Services, an affiliate of CCRP, will manage the new
property, with Jones Lang LaSalle leasing the office space. In addition to the
office building, the Plaza Seven tower includes retail and a hotel, which is
undergoing renovations to become a Radisson Blu. CCRP plans to undertake an
extensive elevator modernization project for the building, as well as making
other building improvements.

Over the past few years, CCRP has acquired significant properties in Las
Vegas, Denver and Emeryville, California, adding to the company’s numerous
properties in the United States.

About City Center Realty Partners

City Center Realty Partners, LLC specializes in the development, redevelopment
and acquisition of urban real estate, including more than $800 million of
retail, office and mixed used product over the last twelve years. The Company
develops innovative solutions for this unique investment niche based on its
market knowledge, development expertise, and tenant relations. A flexible,
responsive and action oriented approach allows City Center Realty Partners,
LLC to maximize value in each of its projects. For more information visit
www.ccrpllc.com

About Angelo, Gordon & Co.

Angelo, Gordon & Co. is a privately-held registered investment advisor
dedicated to alternative investing. The firm was founded in 1988 and currently
manages approximately $25 billion.

Contact:

for City Center Realty Partners, LLC
Maureen Futtner, 415-637-3280
maureen@maureenfuttner.com
or
Eric Anderson, 612-339-6400
eric@ccrpllc.com
 
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