DALLAS-Caddo Holdings LLC has made its first acquisition sinceits formation last summer, buying Wells Fargo Tower in the Lakewoodarea of the city for an undisclosed amount. Dallas CentralAppraisal District has assessed the 173,855-square-foot building at$3.9 million.
The company, which is capitalized by a Texas-based privateequity fund, purchased the class B building from Newkirk Alake LP,a subsidiary of New York-based Lexington Realty Trust., which hadowned the building since 2007. The asset traded in an off-markettransaction, according to Dustin Schilling, a principal at CaddoHoldings. He co-founded the firm with Stacey Davis and TimSlaughter in August 2009.
Located at 6301 Gaston Ave., Wells Fargo Tower was constructedbetween 1971 and 1981 by Allied Lakewood Bank. It serves as townsquare for the Lakewood neighborhood and by walkable retail.
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