Stonewater Partners Closes First Acquisition
Mt. Kisco, New York – December 1, 2003:
Stonewater Partners announced today that it has closed on the purchase of the
Amdocs Portfolio, a 105,400 square foot, 4 building, Class A office campus in
Champaign, Illinois.
The buildings are 100% leased to Amdocs (NYSE:DOX) with leases expiring in 2011
and 2012. The acquisition also contains land to develop another 20,000 square
foot building. Commenting on the transaction, Jeffrey Toporek, a Stonewater
principal, stated "We are very excited to create a solid foundation for our
portfolio with the Amdocs acquisition. The property is part of Stonewater
Partners’ overall strategy of acquiring value-added, single-tenant opportunities
across the United States."
David Stade, also a Stonewater principal, added “The Amdocs transaction
represents Stonewater’s commitment to acquiring mission critical facilities with
solid growth companies in strong real estate markets.”
Wells Fargo provided a 10 year fixed rate first mortgage of $10 million with a
30 year amortization.
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