Red Tail Acquisitions (RTA), a Newport Beach, CA-based real estate investor that targets properties that normally have leasing or construction issues, has purchased a six-property, 16-building industrial portfolio in the Dallas-Fort Worth area from AEW Capital Management. HFF marketed the property on behalf of the seller; the purchase price or terms of the sale were not disclosed by any parties.
"This acquisition not only represents an exciting opportunity for Red Tail Acquisitions to expand its DFW holdings, but is also a prime example of the types of investments we hope to make throughout Texas," said Sean Miller, Executive Vice President at Red Tail, in a press release. "RTA would like to thank AEW and HFF, who were great transaction partners."
The portfolio includes 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, Texas, plus 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrolton, Texas. The portfolio was 87% leased at the time of sale to 41 tenants, including NOW Specialties, Optex Systems, Laboratory Corporations of America, CircuitCo Electronics, Advanced Environmental Concepts, Milestone Construction, TraStar, Inc. and Gym Ratz Basketball Club.
For more news and information visit Blumberg Capital Partners.
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