Reserve Capital deploys 60% of Fund 1 with Texas office buy

Reserve Capital Partners (RCP), a Dallas-based real estate private equity fund, has acquired Two Colinas Crossing, a class A office building in Texas, for an undisclosed amount.

Located at 11511 Luna Road in Farmers Branch, Texas, the 180,504-square-foot property stands six stories tall and was built in 2000, according to former owner Transwestern.

Reserve Capital Management will assume property and asset management responsibilities for the building, which houses major corporate tenants such as IBM, S&P Global, BBVA and Home Point Financial.

"We love the asset, location and tenant base,” said Brant Landry, partner at Reserve Capital. “Luna Road and I-635 has dramatically changed over the last three to five years, and the future outlook of the area is bright.”

The buy comes on the heels of Reserve Capital’s investment in a new self-storage development outside of Kansas City, Mo.

With the latest acquisitions, RCP is 60 percent deployed in