DVI Equity Partners to Specialize in Micro-Cap Investments in Emerging Companies

TUCSON, Ariz.- Diamond Ventures Inc., founded in 1988, is one of Arizona’s leading real estate development and venture capital companies.  The company announced last week that Robert Griffin has joined DVI Equity Partners, LLC, as a principal and the company’s new managing partner. DVI Equity Partners (DVI) is a new venture capital entity that Diamond Ventures and Griffin formed to increase their sourcing and analysis of investments in early stage, emerging technology companies.

Griffin’s history with Diamond Ventures began with his role as CEO of Knowledge Computing Corporation (a University of Arizona spin-out and early Diamond Ventures portfolio company), and the developer of COPLINK™. In 2009 he successfully led a merger with UK-based i2, in partnership with Silver Lake Partners. In late 2011 as the CEO of i2, Griffin facilitated the sale of the company to IBM.

Under Griffin’s leadership, DVI will be actively seeking investment opportunities, with an emphasis on disruptive technology. DVI will also seek investment opportunities in companies founded and led by women and minorities. Griffin plans to evaluate emerging technology companies that create B2B value in national security, enterprise software, artificial intelligence, data analysis and other technologies.

“The formation of DVI Equity Partners and the addition of Bob Griffin to our management team underscore our desire to expand our venture capital investments and services to the Southwest region’s technology sector,” said Diamond Ventures President David Goldstein. “Through DVI and Bob’s leadership, we will have the ability to share our management expertise, resources and relationships to help entrepreneurs bring new technologies and data to transform the way we currently live and conduct business.”

“Diamond Ventures is a respected venture capital firm with a proven track record for developing strong partnerships and helping companies grow to the next level,” said Griffin. “I look forward to bringing their strengths beyond real estate development to disruptive and disintermediating technology companies serving commercial industries and governmental entities.”

Griffin’s team will include Nathan Levy, who runs the Diamond Ventures Denver office, and Ngoc Can, a Private Equity Analyst with Diamond Ventures.

Visit https://www.dviequitypartners.com/ for additional information.

Griffin Capital Corporation (“Griffin Capital”) on behalf of Griffin Capital Essential Asset REIT II, Inc. (the “REIT”), purchased the 100,273-square-foot, Aetna Life Insurance Company (“Tenant”) leased facility at 3535 E Valencia Road in Tucson, Arizona (“Property”) from a subsidiary of Aetna, Inc. (“Aetna” or “Parent”) (NYSE:AET) First Health Group Corp. through a sale-leaseback transaction. The property commanded a sale price of $21.6 million ($215 PSF).

The Property is 100% leased to Coventry Health Group Corporation (“Coventry”), a subsidiary of Aetna Life Insurance Company, which has an investment-grade credit rating of ‘AA-‘ from S&P as an affiliate of Aetna, one of the nation’s leading diversified health care benefits companies. As part of the sale-leaseback transaction, the Tenant executed a new 10-year lease at the Property with annual base rental rate increases of 3.0% and no termination or contraction options. Coventry has been an occupant at the Property since it was constructed as a build-to-suit in 2001.

Commenting on the acquisition, Louis Sohn, Griffin Capital’s Director of Acquisitions, said, “Given the Tenant’s historic occupancy of and its capital investment into the Property and the 10-year lease term executed at closing, we believe Aetna will continue to find the Property and market attractive well into the future.”

Michael Escalante, Griffin Capital’s Chief Investment Officer, added, “Given the investment-grade credit quality of the tenant, and long-term lease with annual rental rate increases, this acquisition is an excellent addition to our REIT’s institutional-quality portfolio.”

Griffin Capital Essential Asset REIT II, Inc. is a publicly registered non-traded REIT with a portfolio that currently includes 16 office and industrial buildings totaling approximately 2.6 million rentable square feet and asset value of approximately $404 million. Led by senior executives with more than two decades of real estate experience collectively encompassing over $21 billion of transaction value and more than 650 transactions, Griffin Capital and its affiliates have acquired or constructed approximately 41 million square feet of space since 1995. Griffin Capital and its affiliates own, manage, sponsor and/or co-sponsor a portfolio consisting of approximately 26.7 million-square-feet of space, located in 29 states, representing approximately $4.6 billion in asset value.

The transaction was spearheaded by Cushman & Wakefield’s Boston-based capital markets team consisting of President Robert Griffin, Vice Chairman Edward Maher, Executive Director Matt Pullen and Associate Director Jim Tribble, in conjunction with Tucson office market specialist, Rick Kleiner, a principal at C&W’s local affiliate Picor Commercial Real Estate Services.

For additional information refer to RED Comp #3146.