Office.
IRA Capital “IRA” has a strong track record of acquiring well-located, Class A office properties in primary markets throughout the United States. The firm has achieved consistent success by forming long-term partnerships with high-credit tenants, including executing sale-leaseback transactions for corporate headquarters and mission-critical facilities. These structures provide durable cash flow while aligning IRA with established operators in strategic markets.
In addition, IRA has demonstrated the ability to reposition under-leased office assets through targeted capital improvements and proactive leasing strategies. By enhancing common areas, modernizing suites, and designing floor plans that foster creativity and collaboration, the firm elevates the tenant experience. Strategic amenity upgrades — including fitness centers, on-site cafés, and other workplace enhancements — not only attract higher-quality tenants but also promote tenant retention, recruitment, and long-term occupancy stability.
Featured Transaction: The Equitable Building
The Equitable Building is a Class A, six-story office property originally constructed as a build-to-suit headquarters for Equitable Resources. The asset is prominently located in Pittsburgh between PNC Park (home of the Pittsburgh Pirates) and Heinz Field (home of the Pittsburgh Steelers), adjacent to Stage AE Amphitheater, and within walking distance of Rivers Casino, a 450,000-square-foot entertainment complex. The irreplaceable location positions the property within one of the city’s most dynamic live-work-play corridors.
At acquisition, the property was encumbered by long-term, fixed-rate life insurance company debt. IRA identified an opportunity to leverage its relationship with the seller to negotiate a favorable defeasance structure as part of the transaction, enhancing overall economics. Additionally, IRA recognized the embedded value in the long-term, investment-grade lease in place, with contractual rents below prevailing market levels, creating mark-to-market upside and durable income visibility.