East Setauket, NY Holliday Fenoglio Fowler, L.P. (HFF) has closed the $81.45 million recapitalization of Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 s/f.
HFF represented TRITEC Real Estate, and procured the partner, a fund advised by UBS Real Estate & Private Markets.
Completed between 1987 and 2007, the portfolio is located within a master-planned business park proximate to several large universities and hospital groups, including Stoney Brook University, in Eastern Long Island. Stony Brook University is one of the key tenants in the 97% leased portfolio, occupying more than 65% of the buildings.
The HFF team representing TRITEC was led by senior managing directors Andrew Scandalios and Jose Cruz and assisted by senior managing director Michael Gigliotti.
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