IRVING, TX-Close to 10 years after existing the Dallas-FortWorth region, Parallel Capital Partners has returned with its $125million acquisition of the 850,000-square-foot UrbanTowers from CB Richard Ellis Strategic Partners. Thereasons the buyer wants to re-invest in DFW? An attractive climate,pro-business environment, no state-income tax, a central location –and yield.

"We've been carefully monitoring the Dallas-Fort Worth marketand are seeing good risk-adjusted returns in the market at thistime, relative to our other target markets," Parallel Capital'smanaging partner Jim Ingebritsen tells

The last time Parallel Capital was in Texas, it functioned asShidler Group's west coast operating platform. In August 2004, thecompany sold the 450,603-square-foot Twin Towers (at8585 N. Stemmons Fwy.) to Dr. David Lee. Three years later, inMarch, 2007, Parallel Capital quit Texas entirely, disposing of the 795,115-square-foot 1301Fannin to Griffin Partners.

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