Viking Acquires Cincy-Area Office Asset in JV with DRA

Cincinnati-based Viking Partners Fund IV, LLC acquired Towers of Kenwood, a Class A, 404,425-square-foot office building in suburban Cincinnati. Viking Partners bought the seven-story property in a joint venture with a fund managed by New York City-based DRA Advisors LLC for a reported $80.6 million. The seller was a JV between Hines and an affiliate of Oaktree Capital Management LP.

Viking Partners’ Bret Caller says, “The Kenwood office market provides us with a strong value-add opportunity for rent growth. Towers of Kenwood is a best-in-class asset located within an extremely attractive office sub-market, and conveniently close to numerous surrounding amenities.”

The Viking and DRA are planning additional capital improvements to the 97%-occupied asset at 8044 Montgomery Rd., including upgrades to restrooms, corridors and lobbies.

Cushman & Wakefield’s Capital Markets team in Cincinnati handled the deal.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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Viking Acquires Cincy-Area Office Asset in JV with DRA

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National CRE News In Your Inbox.

Viking Acquires Cincy-Area Office Asset in JV with DRA

Inside The Story

About Dennis Kaiser