Trigate Buys 320,000 SF From Lender

ADDISON, TX-A three-building office portfolio is now in the hands of local investor Trigate Capital LLC. The “Quorum Portfolio” was sold by GE Capital, and once belonged to Equastone.

The three class B buildings in this Dallas suburb attracted a great deal of attention, according to CB Richard Ellis executive vice president Gary Carr, who represented GE Capital in the transaction. He tells GlobeSt.com that part of the portfolio’s attraction was simply a factor of increased investor interest in quality assets. The location didn’t hurt either; all three buildings are close to the Dallas North Tollway.

The other reason for the potential buyer interest, Carr comments, was because GE Capital provided seller financing. “That made a big difference in the product’s attraction,” he says, adding that Trigate got the nod because of its track record and reputation.