Nov 18

Westdale Acquires Two Dallas Office Buildings From Caddo Holdings

Caddo Holdings LLC has sold two of its Dallas properties to Westdale Real Estate Investment and Management: 3500 Oak Lawn Ave. and 4245 Uptown.

Eric Mackey and Gary Carr with CBRE’s capital markets and institutional properties group represented the seller in the deal.

3500 Oak Lawn totals 101,541 square feet and sits at the intersection of Oak Lawn and Lemmon avenues. 4245 Uptown totals 87,292 square feet and is located at 4245 N. Central Expressway, between the Knox-Henderson district and Fitzhugh Avenue.

The buildings “presented investors with a favorable balance of in-place cash flow and significant upside,” Mackey said.

Caddo has been an active buyer and seller during the past several years. It sold seven assets in 2013 and 2014, including the two Uptown properties. The others include the two-building Lakewood Towers complex, 2501 Cedar Springs Road, 2811 McKinney Ave., and 3400 Carlisle Ave.

On the buy side, Caddo has acquired nine buildings totaling about 950,000 square feet. It continues to focus on the acquisition of office and industrial properties within Texas.

The company was formed in August 2009 by Justin Engler, Tim Slaughter, and Dustin Schilling.

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