Chicago-based Intercapital Group, a real estate investment firm, has acquired six apartment communities in North Texas for nearly $107 million with the help of aFannie Mae loan. In all, the communities total 1,711 apartments.
Terms of the Fannie Mae loans totaling $106.9 million include 10 years, 30-year amortization and three years of an interest-only loan.
Read more at Dallas Business Journal.
After months of working the deal, New York-based Fortis Property Group LLC has acquired one of the tallest skyscrapers in downtown Dallas.
Terms of deal were undisclosed, but real estate sources estimate the tower sold for upwards of $300 million. Fortis Property Group purchased the property — which was last valued at $178.7 million by the Dallas Central Appraisal District — from Houston-based Hines, which was represented by HFF.
Read more at Dallas Business Journal
Dallas, TX – June 29, 2016 – On Tuesday, June 28, the International Building Owners and Managers Association (BOMA) honored its top buildings and employees at the BOMA International TOBY Awards Program & Banquet in Washington, DC. BOMA Dallas is pleased to announce that Freeport X, managed by Duke Realty Corporation, took home highest honors in the Industrial Category.
The objective of The Outstanding Building of the Year (TOBY) Awards Program is to recognize excellence in building management, operating efficiency, tenant retention, emergency planning and community impact. The competition begins at the local level and local winners move to the regional level. Regional winners then compete internationally, against properties from all major cities in the United States plus Canada.
“The TOBY process is about recognizing the excellent work of the property management team,” said BOMA Dallas President Scott Moore, RPA, chief operating officer at Holt Lunsford Commercial. “We’re proud of all of our member buildings that made it to the international competition and congratulate Freeport X for receiving top honors in the industrial category.”
Dallas currently has one of the strongest industrial markets in the country. In 2015 theBOMA Dallas BoardofDirectors created its first special interest group (SIG) designed to meet the unique needs of the industrial property manager and to support growth in this sector. Recognition on the international level highlights the strength of the industrial market in North Texas.
About BOMA Dallas
BOMA Dallas is the professional organization representing the commercial real estate industry and related service providers by establishing the industry standard of excellence through Advocacy, Education, Networking and Community Service.
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A California-based orthopedic goods manufacturer and distributor has decided to move its Ohio-based distribution hub to Dallas/Fort Worth International Airport, which will give the company a place to significantly expand operations and possibly relocate its West Coast headquarters.
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St. Louis-based data center operator Ascent is making its development foray in North Texas after buying a former Capital One data center, which the developer plans to invest $90 million in the property to attract Fortune 1000 companies.
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