DFW Land Buys Trophy Office Building In Dallas: The DFW Deal Sheet
A Dallas-based firm just nabbed a fully leased trophy office building in a 33.5-acre mixed-use district.
DFW Land purchased the 121K SF Class-A office property 8020 Park Lane in The Shops at Park Lane mixed-use district in Dallas from Northwood Investors. Originally constructed in 2015, the five-story building is 100% leased to Energy Transfer LP.
"8020 Park Lane provides a strong and stable cash flow stream from an investment-grade tenant, complementing our growing roster of high-quality tenants at our Park Lane office buildings,” DFW Land Chief Investment Officer Brian Rosen said in a statement.
The transaction is part of DFW Land’s continued expansion in the submarket following its previous acquisition of 8070 and 8080 Park Lane.
In addition to arranging the acquisition, Newmark also arranged portfolio financing for the combined office holdings.
Newmark’s Chris Murphy, Gary Carr, Robert Hill and Austin Sheahan represented the seller in the transaction, while the firm’s Andrew Porteous, Clint Frease, Chris McColpin and Josh Francis arranged the financing on behalf of DFW Land.
“DFW Land continues to execute on a clear strategy at Park Lane, building scale in one of Dallas’ most dynamic mixed-use environments,” Murphy said in a statement. “8020 Park Lane complements its existing holdings with a fully leased newer vintage asset that enhances both income stability and long-term optionality.”
SALES
Brixton Capital acquired the 288-unit Allura Las Colinas apartment community in the Las Colinas area of Irving in an off-market transaction. Brixton plans to invest in targeted capital improvements to elevate the property to core-plus standards. JLL’s Greg Toro and Caroline Novak represented the seller, while Brixton represented itself in the transaction. The property will be managed by Brixton’s affiliate, United Apartment Group. JLL Capital Markets’ Tony Nargi and Aldon Cole secured the financing on behalf of Brixton.
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The Dinerstein Cos. acquired the 325-unit Aspire Park Lane multifamily community in Dallas, along with properties in College Station and Denver. The Dallas and Denver properties mark the company’s first acquisitions in those markets. The Dinerstein Cos. plans to invest more than $18.7M across the three assets.
Aspire Park Lane is located within the Park Lane mixed-use development along U.S. Highway 75. The property consists of two high-rise towers and a four-story mid-rise component, all built in 2008. The company closed on the property in December.
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Cabot Properties acquired the 1M SF The Mark IV industrial portfolio in Fort Worth. The three-building portfolio at 2340, 2233 and 2121 Providence Drive in the Meacham/Fossil Creek submarket of Fort Worth was completed in 2020. The properties are 100% leased to six tenants across industries such as logistics, manufacturing, shipping, technology and automotive services.
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MG Properties purchased the 458-unit Reserve at Spring Creek multifamily asset in Richardson from an affiliate of Lone Star Funds. The property was completed in 2019 on over 17 acres. Institutional Property Advisors’ Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Jack Windham represented the seller and procured the buyer. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant and Harry Krieger arranged the financing for the deal.
LEASES
Pool Nation subleased nearly 21K SF of space in the Three Forest Plaza building at 12221 Merit Drive in Dallas from Crayon Software. Newmark’s Jeff Pappas represented Crayon Software in the deal, while Pool Nation was represented by Preeminent Commercial Real Estate Group’s John Torres.
CONSTRUCTION AND DEVELOPMENT
Fort Worth Housing Solutions will break ground this week on Hughes House II, which will bring 302 mixed-income units to the Stop Six community in Fort Worth. When complete, the six-phase development will provide 542 mixed-income units where the former Cavile Place public housing community once stood. Fort Worth Housing Solutions broke ground on the first phase of Hughes House units in 2023 and welcomed the first group of residents in 2025.
PEOPLE
The full-service transactional and litigation firm Shackelford, McKinley & Norton added transactions attorney Frank C. Ehman III to its Dallas office. Ehman represents entrepreneurs and privately held businesses in corporate and transactional matters, including mergers, acquisitions, entity structuring/reorganizations, corporate governance and general business matters.
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Tarrant County-based Worthington Bank added Keller Harbuck as vice president of commercial banking at its Fort Worth Main Street office. Harbuck will manage and grow a portfolio of commercial customers.
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Sonida Senior Living Inc. appointed Anton Nikodemus to the newly created role of chief operating officer, effective June 15. Nikodemus brings 30 years of executive-level hospitality and operations leadership to Sonida, where he will oversee end-to-end operational performance across the portfolio.
THIS AND THAT
BLDR Holdings launched its commercial construction company Texbuilt as part of a strategic expansion to serve the growing Texas market with a dedicated team based in the state. Texbuilt is led by an experienced Texas-based team featuring President George Heath, Vice President of Operations Matthew Connors and Director of Preconstruction Bobby Bass.
