Jan 28

Commercial property investor puts Dallas buildings up for sale

A Dallas commercial real estate investor has put its five local office properties up for sale. But officials with Caddo Holdings say they plan to buy other buildings in the state.

Caddo Holdings has hired HFF LP to sell the buildings in Dallas’ Uptown and Lakewood districts.

The three Uptown buildings were purchased in late 2011 and are the 7-story Crosstex Energy building at 2501 Cedar Springs, the five-story 3400 Carlisle building on Lemmon Avenue and the three-story 2811 McKinney building near the Quadrangle.

Caddo is also trying to sell its 2-building Lakewood Towers office complex on Gaston Avenue in East Dallas. It acquired the Lakewood property in 2010.

Lakewood Towers is 85.5 percent leased and the Uptown buildings are between 83 and 100 percent rented.

“We executed on our plans on those assets ahead of schedule so decided to have HFF take them to market,” Caddo Holdings Dustin Schilling said. “We have aggressive acquisition plans for Texas and are acquiring additional buildings.”

Caddo Holdings is a private investor formed in 2009 by Schilling and partners Justin Engler, Tim Slaughter.

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