Christiane Hepfer, president of International Capital Inc. in Dallas, brokered the acquisition on behalf of the buyer, Hurst Airport Freeway LP. The investment group, she tells GlobeSt.com, now owns 11 properties in the Dallas-Fort Worth metroplex under various LP entities. The newest buy came with a 10-year lease, Hepfer confides.
Hepfer says Stream acquired the holding about three years ago and set about tailoring the interior for Liberty Mutual after All-State Insurance Co. vacated. Located east of Fort Worth, the holding is positioned at 689 Airport Freeway and abuts a large Super Target and other retail near the intersection of Precinct Line Road and Texas 183. Stream's Keith Fisher bargained for the seller.
Hepfer says the investment group is shifting its mix to suit the times and hone in on properties with fewer tenants. The German buyer used a 1031 exchange of a 6.4-acre tract that was leased and then sold to Foxworth-Galbraith Lumberyard in Fort Worth to facilitate the office building buy. Meanwhile, the 26,000-sf Beltline-Venture shopping center, built in 1985, in Carrollton has just come to market.
International Capital is a niche player that caters to German-speaking companies and investors. The firm brokers and then manages the acquired properties. The Hurst buyer has a US portfolio in excess of $35 million, according to Hepfer.
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