Feb 12

Dallas investor Caddo Holdings buys office buildings in Oak Lawn and near Knox Street

A Dallas-based real estate investor that owns five local office buildings has scored two more high-profile purchases. Caddo Holdings LLC on Monday purchased the 7-story 3500 Oak Lawn building at Lemmon and Oak Lawn avenues in Dallas.

And Caddo Holdings acquired the 4245 N. Central Expressway office building located near Knox Street.

The two buildings contain almost 189,000 square feet of space and are about 86 percent leased.

Both Dallas office buildings were purchased from California investor M West Holdings. The previous owner had acquired the buildings in 2006 and 2008.

Terms of the sale were not disclosed.

HFF LP arranged financing for the purchase with Texas Capital Bank.

“We’ve been pursuing these buildings for the past year,” said Caddo Holdings partner Justin Engler. “We have been pursuing small tenant office buildings in Dallas-Fort Worth, Austin and Houston.”

Creighton Stark and Ben Lurie of Colliers International brokered the building purchases by Caddo.

Jones Lang LaSalle will handle the leasing of the properties.

Caddo Holdings has a track record of multiple building purchases.

In 2011, the investor bought three office buildings in Uptown. And the firm has owned the Lakewood Towers project in East Dallas since 2010.

The independent investment firm founded in 2009 by Engler, Dustin Schilling and Tim Slaughter has continued to look for office properties in Texas.

“As our company has grown, our reach to capital sources has increased,” Schilling said.

Caddo Holdings is currently marketing its previously acquired Uptown and East Dallas office properties for sale with the help of HFF LP.

“We’ve had strong interest in those buildings,” Schilling said.

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