(Read more on the debt and equitymarkets.)
DALLAS-In a 45-day spin from the best and final to the close,Miami-based Parmenter Realty Partners has grabbed control of the196,040-sf Two Forest Plaza. The deal has crossed the finish linewith a $19.73-million loan for acquisition and repositioningcosts.
"We have quite a bit of capital committed to it," says SteveBronner, managing principal of Parmenter Realty. The loan, providedby Paris-based Societe General, includes a reserve pool to upgradethe lobby and elevators plus underwrite tenant improvements andleasing commissions to reposition the 64%-leased, class B buildingat 12201 Merit Dr. and bump it to class A-minus status, he tellsGlobeSt.com.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
