Oct 17

Three Uptown building portfolio sells to Dallas firm

A three-building portfolio in Uptown Dallas has sold to Caddo Holdings LLC from a Texas-based seller for an undisclosed sum.

The Dallas-based firm bought the buildings — 2811 McKinney Avenue, 2501 Cedar Springs Avenue and 3400 Carlisle Street. The properties comprise 281,000 square feet of office and retail space.

Creighton Stark, Senior Vice President of Office Investment Sales at Colliers International, solely negotiated the deal.

Caddo Holdings plans to make some improvements to the properties to increase the operational value of the buildings, said Tim Slaughter, president and COO at the company.

The buildings will be managed by Caddo and leased by Nathan Durham of PM Realty Group. American Bank of Texas provided the financing for the portfolio acquisition.

Caddo plans to purchase additional Class A and Class B buildings in Class A locations in upcoming months, officials said.

The firm owns four building totaling about 500,000 square feet in Dallas. Justin Engler, Dustin Schilling and Tim Slaughter formed Caddo in August 2009 to focus on acquiring assets in major Texas markets.

Leave a Reply