Equastone executive vice president Clint Harrington and chiefinvestment officer Jeffrey Schindler won't discuss how much theypaid, but did confirm that it was "substantially below" the DallasCounty assessment for the class B trio at 5710, 5720 and 5728 LBJFreeway in North Dallas. The off-market deal went full circle inless than 60 days, including a loan assumption.

"It came about real quickly. We had it tied up in a coupledays," Schindler says. "The reason we assumed the loan is becauseit had a significant prepayment penalty." They say the reality isthe deeds passed at well below half of the replacement cost.

The Equastone executives tell GlobeSt.com that they've mappedout a two-year hold, with significant upgrades underwriting thepush for stabilization. Bernard Deaton, managing partner of locallybased Bradford Cos., who had been hired in January by the seller,has been retained by the San Diego-based buyer.