LAS COLINAS, TX-Atlanta, GA-based Brookdale Group, through its Investor’s Six LP Fund, acquired the 1.4-million-square-foot Towers at Williams Square from TIAA-CREF. Brookdale’s plan is to invest $10 million in capital improvements into the 1980-constructed, class A office buildings.
The four-building complex at 5215 N. O’Connor Blvd. is 92.5% leased to tenants including Pioneer Natural Resources, Flowserve Corporation, Centerline AREA and La Cima Club. Williams Square is also home to Mustangs of Las Colinas, one of the world’s largest and best-known equine sculptures featuring nine bronze mustangs arrayed across the project’s central plaza. Holliday Fenoglio Fowler LP negotiated the transaction.
A press release detailing the transaction noted that the Williams Square acquisition follows three other CRE purchases made by the company’s sixth fund during the past year. Brookdale acquired the 111,800-square-foot Trinity Place and the 105,700-square-foot Nottingham Hall in Raleigh, NC; and SunTrust Financial Centre in Tampa, FL.
“The Williams Square acquisition aligns perfectly with our current strategy of investing in Class A office properties in select high-growth Sunbelt office markets and submarkets,” said Brookdale vice president Robert Turner in a prepared statement.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.