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Sentinel Real Estate spends $135M on 3 NC office assets

Sentinel Real Estate Corp. paid $135.3 million for three office buildings in Research Triangle Park, N.C., to a Global Securitization Services-managed entity dubbed Longleaf Pine Funding Co., the Triangle Business Journal reported, citing the Wake County deed records.

The buildings, covering 485,500 square feet, sit on 67 acres of Development Drive and are home to Lenovo, according to the paper.

The purchase by the Manhattan, N.Y.-based real estate company represents an increase of 6.5%, or roughly $8.3 million, over the assets' $127 million purchase price, paid by the entity in 2015.

Cushman & Wakefield acted on behalf of the seller during the transaction, the Feb. 5 article noted.