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IRVING, TX-AmREIT has made its first significant acquisition inthe Metroplex with the $38-million buy of MacArthur Park ShoppingCenter, a Kroger-anchored shopping center totaling 198,443 sf. TheHouston-based REIT purchased the four-year-old center fromJacksonville, FL-based Regency Centers Corp., which came intopossession of the center through its acquisition of Dallas-basedPacific Realty Trust in 1998, according to Tenel Tayar, AmREIT's VPof acquisitions.
"We haven't bought anything this large in DFW in the history ofthe company," Tayar tells GlobeSt.com. "We're focusing on DFW andTexas for major acquisitions because we're trying to grow in ourbackyard and for operational regions."
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