[IMGCAP(1)]DALLAS-StarPoint Commercial Properties LLC plans toacquire $150 million to $200 million of retail and officeproperties in the coming year. To more fully mine the market, the17-year-old investment group has opened a Texas shop.
“We figure now is a good time to put someone on the ground,”says Evan Farahnik, principal of the Beverly Hills, CA-basedStarPoint. Leading the push is John W. McDowell IV, regionalacquisitions manager who spent the past two years in the sameposition at Westmount Realty Capital LLC in Dallas.
StarPoint isn't new to the state, but its focus has beenconsiderably stepped up. The investment group bought twomultifamily properties in Houston about five years ago and soldthem about 18 months ago. StarPoint returned in fall 2006 to buythe 144,657-sf Southridge Shopping Center along William CannonDrive in Austin for $18 million.
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