Monday, June 09, 2014
International investor buys Dallas-area office buildings
Three Dallas-area office buildings have sold to an international real estate investor.
Investcorp said Monday that it has purchased two Uptown office building and one in Allen.
The Uptown buildings are the 3400 Carlisle Street and 2811 McKinney Avenue, which were purchased from Caddo Holdings of Dallas.
The 5-story 3400 Carlisle building is at Lemmon Avenue and the 3-story 2811 McKinney building is near the Quadrangle.
The One Allen Center is a 150,509-square-foot, 5-story office building at North Central Expressway and Bethany Drive.
HFF LP marketed the buildings for sale.
Investcorp bought the Dallas office buildings along with a Florida apartment community for $105 million.
It says the properties average 95 percent occupied.
“The properties are all located in regions with solid, growing economies and we believe they are well positioned to add value for Investcorp,” principal Brian Kelley said in a statement.
Investcorp is an $11 billion, international investment firm with offices in New York, London, the Kingdom of Bahrain, Saudi Arabia and Abu Dhabi.
The company represents clients in the Middle East, Europe and North America.
Steve Brown- Dallas news