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Transactions - SEPTEMBER 10, 2019

Admiral Capital Group buys class A office building in Dallas

by Kali Persall

Admiral Capital Group has acquired Fourteen555, a 249,564-square-foot, class A office building located in the Lower Tollway submarket of Dallas, on behalf of its core-plus investment platform (A2R).

Financial terms were not disclosed.

Launched in early 2018, A2R’s portfolio consists of nearly 1 million square feet of office space across Dallas, Philadelphia, Phoenix and San Diego. The investment vehicle acquires and manages core-plus properties in growth markets across the United States.

Fourteen555, a six-story office building and three-story amenity building, is located on the Dallas North Tollway, just north of I-635. The property features a full-service restaurant, a fitness center with locker rooms and an open-air, covered terrace with lounge seating.

Fourteen555 is 95 percent let to a diverse mix of tenants.

“This acquisition represents a great opportunity for us to acquire an off-market institutional-quality asset with best-in-class amenities, ideally located in the center of Dallas,” said Andy Stone, managing partner of A2R.

The property was developed by Cawley Partners in 2018. Cawley will continue to serve as the leasing and property management team.

Admiral Capital Group has acquired more than $1.7 billion of real estate assets to date and has a growing portfolio of strategic private equity investments in operating companies. The firm seeks to create long-term value for its investors, partners and communities in which it operates.

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