IRVING, TX- Parmenter Realty Fund III, sponsored by Miami-basedParmenter Realty Partners, has acquired VHA Place, a326,000-square-foot, mixed-use building.
The fund nabbed the 13-story property out of foreclosure, buyingit from Wells Fargo for less than $50 per square foot, or roughly$16 million. The class A- building was previously owned by SanDiego-based Equastone, which bought it in 2006. Wells Fargo hiredEastdil’s Atlanta office to market the property, which is locatedat 220 East Las Colinas Blvd.
Parmenter obtained acquisition financing from American NationalInsurance Co., which was represented by Gary Dunkum and SuzanneSaunders of Grandbridge Real Estate Capital’s Houston office.
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