One Preston Centre The asset was acquired in an all-cash transaction for an undisclosed purchase price.

DALLAS—Located in one of the area’s premier office and retail districts Preston Center, One Preston Centre is surrounded by some of the most exclusive residential neighborhoods, including University Park and Preston Hollow. Within this district, Pillar Commercial, in a joint venture with Artemis Real Estate Partners, recently acquired the 76,741-square-foot office building located at 8222 Douglas Ave.

The Pillar/Artemis partnership acquired the property from a joint venture controlled by Pegasus Ablon and Lionstone Investments, which was represented by HFF in the transaction. The partnership acquired the asset in an all-cash transaction for an undisclosed purchase price, although the joint venture is working on securing senior debt financing with Regions Bank. Brian Carlton with HFF is securing the financing on behalf of the buyer group.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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