{"id":1004242289,"date":"2018-07-12T05:31:58","date_gmt":"2018-07-12T13:31:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004242289"},"modified":"2022-12-09T01:11:12","modified_gmt":"2022-12-09T09:11:12","slug":"innovatus-capital-partners-grabs-dallas-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/innovatus-capital-partners-grabs-dallas-office\/","title":{"rendered":"Innovatus Capital Partners Grabs Dallas Office"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004242295\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004242295\" data-attachment-id=\"1004242295\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/innovatus-capital-partners-grabs-dallas-office\/frisco-bridges-place\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Frisco Bridges Place\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Frisco Bridges Place&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg?w=800\" class=\"wp-image-1004242295 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg\" alt=\"Frisco Bridges Place\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Frisco-Bridges-Place.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004242295\" class=\"wp-caption-text\">Frisco Bridges Place<\/p><\/div>\n<p>Innovatus Capital Partners has acquired Frisco Bridges Place, a 163,923-square-foot office asset in the Dallas area\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-10-dallas-office-completions-in-2017\/\">booming Platinum Corridor North submarket<\/a>. The buyer financed the purchase with a $24.5 million loan held by Citizens Bank, according to Yardi Matrix. The seller, Heady Investments, developed the building between 2014 and 2016.<\/p>\n<p>Located at 2600 Dallas Parkway in Frisco, the building rises six stories alongside the Dallas North Tollway, about a 5-minute walk from the 1.6 million-square-foot Stonebriar Centre shopping mall. Nearly 7.5 million square feet of Class A office space is located within a mile of Frisco Bridges Place, per Yardi Matrix data.<\/p>\n<p>The asset is 93 percent leased to a mix of 23 tenants, including Strasburger, FPX, Sigma Flow and CornerStone Staffing. The new owner plans to upgrade the property\u2019s amenities, which include a fitness center and caf\u00e9. A 740-stall multi-level parking structure serves the building\u2019s tenants, with additional covered surface parking available.<\/p>\n<p><em>\u201cFar North Dallas has established itself as a clear leader in job growth and creation in the burgeoning Dallas-Fort Worth region,\u201d<\/em> said Bradley Seiden, managing director of real estate for Innovatus, in a prepared statement. <em>\u201cAcquiring a high-caliber asset like Frisco Bridges Place in a flourishing suburban market exemplifies our strategic focus.\u201d<\/em><\/p>\n<p>Innovatus has appointed Lincoln Property Co. to oversee property management and leasing for the asset.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm purchased the asset from Heady Investments, financing the acquisition with a $24.5 million mortgage from Citizens Financial Group.<\/p>\n","protected":false},"author":861,"featured_media":1004242295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21783,21742,21747],"tags":[36351,33925,34621,32838],"class_list":["post-1004242289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-investment","category-latest","category-office","tag-capital-improvement","tag-citizens-bank","tag-innovatus-capital-partners","tag-lincoln-property-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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