Press Release • Oct 15, 2025 08:30 EDT

Firm adds two-property flex office portfolio in Denver’s southeast corridor, underscoring confidence in resilient suburban office markets.

LAS VEGAS, October 15, 2025 (Newswire.com) – Sentinel Net Lease (“Sentinel”), a private commercial real estate investment firm focused on delivering exceptional risk-adjusted returns through long-term net lease strategies, today announced the $23 million acquisition of Waterpark at Briarwood (“Waterpark”), a two-property flex office portfolio located in Centennial, Colorado.

The acquisition was completed through a joint venture with Sentinel Opportunity Fund I, LP, and represents a continuation of the Fund’s strategy to acquire high-quality, income-producing assets in markets with strong fundamentals and stable tenant demand.

Located in the thriving southeast Denver submarket, Waterpark features two institutional-quality office buildings with a diversified tenant base and excellent access to major transportation corridors, retail, and amenities.

“Waterpark at Briarwood aligns perfectly with our strategy of identifying assets that offer durable cash flow and long-term value creation potential,” said Fred Lewis, CEO of Sentinel Net Lease. “We’re proud of our team’s disciplined approach and grateful to our investors for their continued confidence in Sentinel’s platform.”

“Denver’s southeast office corridor continues to demonstrate resilience, supported by a strong tenant base and healthy market fundamentals,” said Dennis Cisterna, Chief Investment Officer of Sentinel Net Lease. “This acquisition highlights Sentinel’s ability to find value in markets where quality supply is limited. The tenants have invested heavily in their spaces, creating institutional-grade improvements that enhance long-term stability. Waterpark at Briarwood met every element of our underwriting criteria-credit strength, functionality, and market positioning-making it an ideal fit for our portfolio.”

This acquisition marks another milestone for Sentinel Opportunity Fund I as it continues to deploy capital into opportunities that combine strong real estate fundamentals with prudent risk management.

Source: https://www.newswire.com/news/sentinel-net-lease-announces-acquisition-of-waterpark-at-briarwood-in-22658546

Commercial Property Executive – October 8, 2024: “Sentinel Inks 2 New Leases in Suburban Chicago.” This article details new leasing activity at Sentinel’s Bannockburn Corporate Center (the same suburban Chicago office asset acquired in 2023). AON, the global insurance firm, signed on for ~40,000 sq. ft. of former vacated space, and engineering firm Baxter & Woodman leased ~4,768 sq. ft., both planning to occupy by end of 2024[23][24]. JLL’s Chris Cummins represented Sentinel in both deals. The story points out that Bannockburn Corporate Center (209,000 sq. ft.) was purchased by Sentinel in 2023 for $28.6M[25], and these lease wins underscore the appeal of well-located suburban offices post-pandemic (modern amenities, transit access, lower costs). Sentinel’s Cisterna commented that securing AON and Baxter & Woodman validates the property’s momentum and the broader trend of companies embracing quality suburban offices[26][27]. (Link: Commercial Property Executive)

[23] [25] Sentinel Inks 2 New Leases in Suburban Chicago – Commercial Property Executive

[24] [26] [27] Sentinel Net Lease | Sentinel Net Lease Secures Two New Tenants at Bannockburn Corporate Center

Big News Network – June 24, 2024: “Sentinel Net Lease Completes Sale of the United HealthCare Customer Service Center in San Antonio, Texas.” A syndicated newswire piece (Accesswire press release) noting Sentinel’s second major disposition of 2024. The firm sold a 142,500 sq. ft. Class A office in San Antonio (UnitedHealthcare’s customer service center) in a brokered deal[20]. The June 2024 sale, coming roughly two years after Sentinel had acquired the property, was highlighted as further evidence of Sentinel’s ability to deliver returns for investors even as many office owners struggle[21]. CEO Fred Lewis stated this profitable sale “exemplifies the quality of assets in our portfolio” and aligns with Sentinel’s strategy of active portfolio management in a volatile market[22]. (Link: Big News Network / Accesswire)

[20] [21] [22] Sentinel Net Lease Completes Sale of the United HealthCare Customer Service Center in San Antonio, Texas

Business Insider (Markets Insider) – April 24, 2024: “Sentinel Net Lease Announces Launch of Sentinel Opportunity Fund I.” A press-release announcement (via Accesswire) covered on Markets Insider. Sentinel Net Lease launched a new $100 million closed-end fund to acquire stabilized commercial properties (office, retail, industrial) in key suburban markets[16]. The release explains that, with higher interest rates softening property values, Sentinel sees a chance to buy high-quality single-tenant assets at attractive cap rates[17]. Cisterna is quoted emphasizing the focus on deals that “make sense in today’s environment,” favoring long-term leases to strong credit tenants over speculative plays[18]. The fund had already secured $20+ million in commitments and had several assets under contract as of launch, targeting 15–20 acquisitions (~$250M total with leverage)[19]. (Link: Business Insider Markets)

[16] [17] [18] [19] Sentinel Net Lease Announces Launch of Sentinel Opportunity Fund I | Markets Insider

REBusiness Online – February 6, 2024: “Sentinel Net Lease Sells 268,413 SF Chase Operations Center in Springfield, Missouri.” Trade news detailing Sentinel’s profitable disposition of a large office asset in Springfield. Sentinel sold the 268,000+ sq. ft. JPMorgan Chase Operations Center (held for under two years) to a local healthcare operator (identified in other sources as CoxHealth[12]). The sale price wasn’t disclosed, but Sentinel achieved a 45% IRR and a 1.9× equity multiple on this deal[13] – making it one of the most profitable U.S. office building sales in recent years, according to the firm. The transaction was brokered by R.B. Murray Company, and it exemplified Sentinel’s strategy of acquiring under-valued office assets and reselling at a gain despite a soft office market[14][15]. (Link: REBusinessOnline)

[12] CoxHealth Buys Chase Operations Campus in Springfield, Missouri

[13] [15] Sentinel Net Lease Sells 268,413 SF Chase Operations Center in Springfield, Missouri – REBusinessOnline

[14] Sentinel Net Lease closes disposition of Chase Operations Center in Missouri – REJournals

Quad Cities Business Journal – September 19, 2023: “BITCO offices in Davenport acquired by Sentinel Net Lease.” Regional business press coverage of Sentinel’s purchase of BITCO Insurance’s headquarters in Davenport, Iowa. The Class A office building (42,676 sq. ft., built 2016) was acquired for $13.3 million and is 100% leased to BITCO[9]. In the announcement, CIO Dennis Cisterna noted it was a “unique opportunity” to buy a new-construction property with a long-term institutional tenant, at a price below replacement cost and with assumable favorable debt[10]. CEO Fred Lewis added that the deal expanded Sentinel’s footprint in the Midwest, growing its portfolio to 18 assets totaling ~1.8 million sq. ft.[11]. (Link: Quad Cities Business Journal)

[9] [10] [11] BITCO offices in Davenport acquired by Sentinel Net Lease

The Real Deal (Chicago) – April 24, 2023: “Fred Lewis’ Sentinel buys Bannockburn offices for $29M.” This article reports that Baltimore-based Sentinel Net Lease acquired the 211,000 sq. ft. Bannockburn Corporate Center (Chicago suburbs) for about $28.6 million[1]. The purchase price was only slightly below what the seller (Axial Real Estate) paid in 2016, and Sentinel’s leadership highlighted the deal as a value play at ~$136 per sq. ft., offering a 9.5% cap rate[2]. The piece notes Sentinel’s executives (led by CEO Fred Lewis) have a track record of $6.4 billion in deals, and it mentions Sentinel also owns a Tesla service center in Schaumburg[3]. (Link: The Real Deal – Chicago)

[1] [2] [3] Sentinel Pays Axial $29M for Bannockburn Office Building