{"id":1004263208,"date":"2018-09-07T07:01:54","date_gmt":"2018-09-07T15:01:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004263208"},"modified":"2022-12-08T08:26:14","modified_gmt":"2022-12-08T16:26:14","slug":"terracap-acquires-dallas-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terracap-acquires-dallas-office-tower\/","title":{"rendered":"TerraCap Acquires Dallas Office Tower"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004263232\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004263232\" data-attachment-id=\"1004263232\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terracap-acquires-dallas-office-tower\/the-addison\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D800&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1524156612&quot;,&quot;copyright&quot;:&quot;\\u00a9 Chrystal LeGrand&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Addison\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Addison&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg?w=800\" class=\"wp-image-1004263232 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/The-Addison.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004263232\" class=\"wp-caption-text\">The Addison<\/p><\/div>\n<p>TerraCap Management has acquired The Addison, a Class A office tower in Dallas. CBRE arranged the deal on behalf of the seller, a joint venture between Frontier Equity and Artemis Real Estate Capital Partners.&nbsp;<\/p>\n<p>Located at 14951 Dallas Parkway, the property comprises 213,585 square feet across 11 stories. Built in 1981, the high-rise was last renovated in 2016. The Addison was 83 percent leased at the time of sale and is home to tenants such as Rexel Holdings USA, JE Dunn Construction, Tri-Delta and Robert Half Technologies. On-site amenities include a fully equipped fitness center with locker rooms, 24-hour security, a parking structure and a tenant lounge with an outdoor patio.&nbsp;<\/p>\n<p>Vice Chairman Gary Carr, Senior Vice Presidents Evan Stone, John Alvarado and Eric Mackey, along with First Vice Presidents Robert Hill and Jared Chua with CBRE&#8217;s Office Investment Properties arranged the transaction. Senior Vice Presidents Greg Greene and Scott Lewis, along with Vice President C.J. Kelly with CBRE&#8217;s Debt &amp; Structured Finance Group secured acquisition financing for the buyer through NXT Capital.&nbsp;<\/p>\n<p><em>\u201cThe Addison offered a secure, in-place cash flow coupled with significant upside potential for the investor,\u201d<\/em> said Carr, in a prepared statement. <em>\u201cThe acquisition of this property is a truly unique opportunity for the buyer to establish a significant presence at the heart of Far North Dallas\u2014the premier submarket in the nation\u2019s top market for growth.\u201d<\/em><\/p>\n<p>In June,&nbsp;TerraCap Management <a href=\"https:\/\/www.commercialsearch.com\/news\/terracap-trades-orlando-office-for-28m\/\">sold Keller Center for $27.9 million<\/a>, a 159,840-square-foot office building north of Orlando, Fla.<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBRE arranged the transaction on behalf of the seller, a joint venture between Frontier Equity and Artemis Real Estate Capital Partners. <\/p>\n","protected":false},"author":746,"featured_media":1004263232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21825,21783,21742,21747],"tags":[34570,32789,37945,37816,37946,37947,35968,35870],"class_list":["post-1004263208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-finance","category-investment","category-latest","category-office","tag-artemis-real-estate-partners","tag-cbre","tag-eric-mackey","tag-frontier-equity","tag-gary-carr","tag-john-alvarado","tag-nxt-capital","tag-terracap-management-llc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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