Monday, August 12, 2013

CBRE Buys, Plans to Improve North Dallas Office Complex

Los Angeles-based CBRE Global Investors acquired a two-building North Dallas office complex, with plans to reposition the property with a short-term loan.
Terms of the deal were not disclosed.
Signature Place, a Class A two-building office complex totaling 437,363 square feet, sits on a 10-acre site near the intersection of Preston Road and Belt Line Road in North Dallas. The buildings, built in 1984 and 1986, are part of an office complex that includes a four-story adjacent garage.
The firm acquired the property on behalf of CBRE Strategic Partners US Value 6 from DRA Advisors. CBRE's debt and equity finance team obtained a three-year loan through Bank of America for the property.
Read more at: Dallas Business Journal
Author: Candance Carlisle