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COLLEYVILLE, TX-A North Texas developer has sold a 97%-leased, five-building suburban office complex to a sister investment company, which pooled 44 investors for the deal. The average buy-in was about $25,000 for the 33,851-sf Colleyville Square, GlobeSt.com is told.

Realty Capital Corp. of Grapevine was the seller and the investment partnership, Realty Capital Partners Inc. of Colleyville was the buyer of the two-year-old complex along Texas 26 in Colleyville. With the closing, the merchant builder has turned deeds to seven buildings, two that went earlier in the year to a private investor, and now the balance to an investment group brought together by its sister company.

“Our investors were interested in purchasing something with a solid return,” Lisa Biggs, vice president of Realty Capital Partners Inc. tells GlobeSt.com. TexasBank provided the acquisition loan for the group of 44, pooled from the three-year-old company’s master roster of 450 investors in the US and abroad. She says the equity group buys inside and outside the Realty Capital organization, with the latest being an offering that was on the open market.

The acquisition, filled with nine medical and professional tenants, abuts 3.2 acres that are on the developer’s drawing board for future development. Cheri White of Coldwell Banker Commercial in nearby Southlake brokered the transaction. LeeAnn Brown of NAI Stoneleigh Huff Brous McDowell leases the development.

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