{"id":1004080308,"date":"2013-07-15T18:58:29","date_gmt":"2013-07-16T02:58:29","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=146256"},"modified":"2022-12-05T20:05:12","modified_gmt":"2022-12-06T04:05:12","slug":"florida-investor-gets-24m-loan-for-dallas-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/florida-investor-gets-24m-loan-for-dallas-office-tower\/","title":{"rendered":"Florida Investor Gets $24M Loan for Dallas Office Tower"},"content":{"rendered":"<p><em>By Amalia Otet, Associate Editor<\/em><\/p>\n<p>Investor interest in the Dallas-Fort Worth Metroplex is rising as the local economy shows signs of strength. Miami-based Parmenter Realty Partners expanded its portfolio there with the<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/7557-Rambler-in-Dallas-TX.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-146257 alignright\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/7557-Rambler-in-Dallas-TX.jpg\" alt=\"\" width=\"300\" height=\"209\" \/><\/a> acquisition of 7557 Rambler Road, a 14-story, 310,771-square-foot office building in Dallas.<\/p>\n<p>CBRE Group Inc.\u2019s Debt &amp; Equity Financing Group has secured a loan of $23.8 million for the acquisition of the mid-rise office tower. NXT Capital of Kennesaw, Ga., provided the three-year, floating-rate loan, which was made at a 70 percent loan-to-cost ratio.<\/p>\n<p>Located off of Walnut Hill near Greenville Avenue in the Central Expressway submarket, the Class A office complex has direct access to the Walnut Hill DART station and is less than half a mile from Central Expressway. Major tenants include Crump Insurance, PSA-Deberry Inc., Ameriprise Holdings, Review Med L.P. and Vista Care.<\/p>\n<p>&#8220;The Central Expressway submarket is positioned to experience near-term growth in absorption and rental rates due to the tightening of neighboring submarkets, including Uptown and Preston Center,&#8221; said Thom Ridnour, senior vice president at Parmenter Realty Partners, in a statement. &#8220;Occupancy in these submarkets stands at 89 percent and 94 percent respectively, where rising rental rates are directing tenants into the Central Expressway corridor.&#8221;<\/p>\n<p>Currently, 7557 Rambler boasts a 94 Energy Star\u00ae rating, as well as several recent improvements. In addition, Parmenter plans to give the property an extensive makeover and seek LEED\u2122 certification from the U.S. Green Building Council.<\/p>\n<p>The building was the company\u2019s eighth investment in Fund IV. With this acquisition, Parmenter Realty Partners now owns and operates more than 2 million square feet of office space in the Dallas market.<\/p>\n<p><em>Photo: Business Wire<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investor interest in the Dallas\/Fort Worth Metroplex is rising as the local economy shows signs of strength. Miami, Florida-based Parmenter Realty Partners expanded its portfolio with the acquisition of 7557 Rambler Road, a 14-story, 310,771-square-foot office building in Dallas.<\/p>\n","protected":false},"author":260,"featured_media":1004506903,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004080308","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Florida Investor Gets $24M Loan for Dallas Office Tower - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/florida-investor-gets-24m-loan-for-dallas-office-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Florida Investor Gets $24M Loan for Dallas Office Tower\" \/>\n<meta property=\"og:description\" content=\"Investor interest in the Dallas\/Fort Worth Metroplex is rising as the local economy shows signs of strength. Miami, Florida-based Parmenter Realty Partners expanded its portfolio with the acquisition of 7557 Rambler Road, a 14-story, 310,771-square-foot office building in Dallas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/florida-investor-gets-24m-loan-for-dallas-office-tower\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-16T02:58:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T04:05:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/7557-Rambler-in-Dallas-TX.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Florida Investor Gets $24M Loan for Dallas Office Tower\",\"datePublished\":\"2013-07-16T02:58:29+00:00\",\"dateModified\":\"2022-12-06T04:05:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/\"},\"wordCount\":279,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/7557-Rambler-in-Dallas-TX.jpg\",\"articleSection\":[\"Dallas\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/florida-investor-gets-24m-loan-for-dallas-office-tower\\\/\",\"name\":\"Florida Investor Gets $24M Loan for Dallas Office Tower - 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