Realty Capital plans to invest another $100,000 into interior and exterior upgrades, primarily aimed at making the building at 1340 S. Main St. compliant with ADA regulations. "We think it's hard to go wrong in Grapevine," Donna Arp, president of Realty Capital Partners Inc., tells GlobeSt.com about the off-market sale with Shelburne Co. Ltd., the owner since July 2000. The deal went full circle in less than 60 days. The Colleyville, TX-based Realty Capital financed the play with a five-year loan from TexasBank and equity from about 20 investors.
Built in 1972, the structure, assessed at $1 million by Tarrant County, is smaller than most of Realty Capital's one-off acquisitions. But, Arp stresses, its location in the city's downtown historic district and proximity to DFW International Airport plus the new owner's longstanding ties to Grapevine drove the decision to buy when Shelburne came knocking on Realty Capital's door.
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