Thursday, January 14, 2016

Florida investment group snaps up North Dallas office complex for $58.5M

Coral Gables, Florida-based America's Capital Partners has made its real estate investment foray into Texas by opening up a new regional office in Dallas after acquiring a two-tower office complex in North Dallas for $58.5 million.
America's Capital Partners has acquired Signature Exchange, a two-tower, 460,000-square-foot office complex at 14755 Preston Road near Preston Road and Interstate 635 in North Dallas, two years after more than $6.8 million was spent on renovations to the lobby and common areas and elevator upgrades.

"Signature Exchange was the ideal entry since the asset aligns well with our investment criteria with great design integrity, fully renovated common areas, walkable amenities and a prime location," said CEO Sergio Socolsky, in a statement.

Socolsky said America's Capital Partners has been looking to expand in the Lone Star state for some time.

CBRE's Greg Green, Scott Lewis and Taylor Pearce secured the $58.5 million in financing on behalf of the borrower. Gary Carr, Robert Hill, John Alvarado and Eric Mackey of CBRE's Dallas office represented the seller, CBRE Global Investors.

Link to the full article here

By Candace Carlisle for Dallas Business Journal