Apex Pacific Partners Snaps Up Lower Tollway Office, Hints At More Acquisitions
KBS Realty sold the 230K SF office at 14180 North Dallas Parkway to Apex Pacific Partners.
The Class-A property, called Parkway Office Center, is just north of Spring Valley Road in Far North Dallas and has two nine-story buildings that are 90% leased to tenants such as Capital Senior Living and Gulf Coast Western.
Apex Pacific Partners invests in properties with a long-term focus.
“Hopefully this will be the first of many closings to come of similar or larger asset size, with either a value-add component or long-term hold," Apex Pacific principals Subash Kolluru and Rei Umekubo said in a statement.
The office, built in 1983, has new or updated restrooms, corridors, lobbies, HVAC systems and elevators.
CBRE’s Gary Carr, John Alvarado, Eric Mackey and Robert Hill repped the seller. CBRE’s Greg Greene, Scott Lewis, Matt Ballard, Frank Piasta and Carter Dunlap arranged the 10-year, fixed-rate loan through one of CBRE’s life company lending relationships.
CBRE’s Shannon Brown, Jackie Marshall and Alexandra Jennings will lease the property.