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Albany Road Real Estate Partners Acquires The Plaza at Solana
A fund sponsored by CBRE Investment Management recently closed on a $66.3 million mortgage loan to facilitate Albany Road Real Estate Partners’ acquisition of a 366,000-square-foot office campus at 1301 Solana Blvd. in Dallas. The floating rate loan has an initial term of three years and can extend up to an additional two years.
The class-A office and retail campus known as The Plaza at Solana spans three separate buildings in the Southlake/Westlake submarket. The property includes 345,000 square feet of office space and 21,000 square feet of neighborhood retail.
“This loan provided our team with an opportunity to lend on a strong-performing office asset in a dynamic and evolving submarket at an attractive basis,” said Nick Ito, managing director for CBRE Investment Management.
Cullen Aderhold of JLL arranged the loan on behalf of Albany Road Real Estate Partners.
The Plaza at Solana was originally designed by architect Ricardo Legorreta and has been recently renovated.
- ◦Sale/Acquisition
