We are pleased to present an opportunity to participate in an exceptional value add opportunity, to acquire a prime building in the Infill Triangle of Dallas, Texas. The sponsors have secured the “Note” from the lender at a significant discount which equates to roughly $50 per square foot.
This 196,215 square foot (SF) office building, Two Forest Plaza is located at 12201 Merit Drive in Dallas, is 38% occupied with 60% of the tenants being in the healthcare sector. The building recently lost longterm credit tenant New York Life in December 2023, who had occupied 42,276 SF for the past 38-years and one floor of the corporate headquarters of La Madeleine Restaurants, both citing work from home COVID related reasons, creating the investment distress.
Forest Plaza is positioned on 3.45 acres of land and is ideally situated in the Infill Triangle, a dynamic area of Dallas and the Sun Belt, bordered by US 75 (Central Expressway), Interstate 635 (LBJ Freeway and TEXpress lanes) and the Dallas North Toll way. It is also located directly opposite two major medical facilities, Dallas Medical City Campus and Presbyterian Hospital and was initially identified to be a Medical Office Block.
This 196,215 square foot (SF) office building, Two Forest Plaza is located at 12201 Merit Drive in Dallas, is 38% occupied with 60% of the tenants being in the healthcare sector. The building recently lost longterm credit tenant New York Life in December 2023, who had occupied 42,276 SF for the past 38-years and one floor of the corporate headquarters of La Madeleine Restaurants, both citing work from home COVID related reasons, creating the investment distress.
Forest Plaza is positioned on 3.45 acres of land and is ideally situated in the Infill Triangle, a dynamic area of Dallas and the Sun Belt, bordered by US 75 (Central Expressway), Interstate 635 (LBJ Freeway and TEXpress lanes) and the Dallas North Toll way. It is also located directly opposite two major medical facilities, Dallas Medical City Campus and Presbyterian Hospital and was initially identified to be a Medical Office Block.
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