Dallas, Texas – A German Family Office represented by International Capital (IC) purchased a single-tenant medical office building on Nolen Drive in Southlake on December 9.
It was the Family Office’s first real estate acquisition in Texas and its first cooperation with IC as real estate and acquisition advisor.
The 16,745 SF single-story property was built in 2012 as a built-to-suit MOB for its occupant Texas Digestive Disease Consultants (TDDC), one of the largest gastroenterologist practices in the United States. TDDC, whose doctors’ practise at over 25 office locations across North Texas, uses the Southlake location as its corporate headquarter. The building includes sixteen exam rooms, ten physician offices, a five-chair infusion lab, and the practices’ centralized and newly expanded histology lab which analyses and processes over 110,000 samples annually.
The state-of-the-art facility is leased to TDDC under a long-term net lease and is located in one of the Metroplex’ most dynamic and growing upscale real estate markets. The combination of these values was a major selling point to the quality and credit oriented purchaser.
The all-cash transaction was closed within 56 days from opening escrow.
Martina Crevecoeur, CCIM, International Capital’s Vice President of Acquisitions/Dispositions represented the buyer in the transaction.
ABOUT THE COMPANY
International Capital, LLC is a boutique real estate advisory firm with over 35 years experience representing more than 100 legal entities in its capacity as asset manager and as property manager. The company handles a portfolio of more than 25 properties in the southwestern United States. Offering a wide range of commercial real estate services, specialties include the acquisition, disposition, management and administration of commercial investment properties. Land and property development, funds conception, mezzanine financing and cash management are also integral parts of the company's portfolio.