In June of 2008, Ashley Capital purchased two office buildings in Southfield, Michigan, the largest office submarket in Detroit. The buildings are located at 24800 Denso Drive (“Oak Hollow Gateway”) and 25400 Denso Drive (“40 Oak Hollow”) within the Oak Hollow Corporate Campus. Southfield is located at the intersection of several of Detroit’s major expressways including I-696, the Lodge Freeway (10), and the Southfield Expressway (M-39).

Oak Hollow Gateway is a three story, class A office building consisting of approximately 79,000 SF. The building is situated on approximately five acres. 40 Oak Hollow is also a three story, class A office building consisting of approximately 81,000 SF. The building is situated on approximately five wooded acres.

Upon ownership, Ashley promptly signed a five year lease for approximately 5,800 SF with National Life Insurance Company, a financial services company, at Oak Hollow Gateway. National Life Insurance Company joins a tenant roster which includes Avaya, IBM, and Hair Club for Men between the two properties.

Acquisition financing was provided by Advantus Capital Management, an institutional asset management firm based in St. Paul, Minnesota.