“We are excited to add these well located, high quality assets to our portfolio and expand our presence in Texas,” Admiral co-founder Dan Bassichis said in a statement. “The north Dallas submarkets have long been a major focus for Admiral due to the rapid job growth and growing demand for economical alternatives to the new supply in the market.” The Duke Bridges III building is a 161,000-square-foot building located northwest of the Stonebriar Center mall.The 12-year-old building is 90 percent leased to tenants including Oracle, Quorum Health Resources, Associated Network Partners and SomnoMed.Holliday Fenoglio Fowler LP marketed the building for sale. Stream Realty Partners lease and manage both the Duke Bridges III building and Admiral Capital’s Parkwood Place in Legacy business park.The buildings were acquired for Admiral Capital’s A2R investment fund.”We continue to execute our defensive, core-plus office strategy with these new acquisitions,” said Andy Stone, managing partner of A2R. “These properties enhance A2R’s growing portfolio by providing significant lease duration and tenant credit quality.”Admiral Capital has properties in North Texas and in the Austin and Houston areas. The company has real estate holdings in a dozen states.The private real estate investment firm is headed by Robinson and his partner Bassichis.Robinson… Read full this story
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