DALLAS--HRI Properties has acquired and willredevelop 411 North Akard Street in Dallas as MayflowerApartments. An affiliate of the CaliforniaTeachers' State Retirement System (CalTSRS) was theseller.
Capital One announced that it has provided a$24-million secured term loan and a $9.6-million bridge loan forthe historic nine-story, 360,970-square-foot office building.
The property was built by the Mayflower InvestmentCo. in 1965, and is listed on the National Register ofHistoric Places for its architectural significance. It waspurchased in 2012 by CalTSRS, which will retain the building's750-space underground parking garage as part of thetransaction.
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