Vista at Solana, Westlake, TX

June 5, 2018 Comments Off on Blackstone Group Bringing 2M-SF Solana to Market Views: 969 Texas News, Top Texas

Blackstone Group Bringing 2M-SF Solana to Market

Blackstone Group and its affiliate, Equity Office Properties, acquired the 1.6-million-square foot office portion of the 233-acre Solana out of foreclosure four years ago.

Now Blackstone is bringing the nine-building, 72-acre portfolio in Tarrant and Denton Counties to the market, following a $50-million upgrade.

HFF is marketing the portfolio, which is on SH 114 in the Dallas-Fort Worth suburban towns of Westlake and Southlake, TX. Also included in the deal is a 38,000-square-foot fitness center. Office tenants include Sabre Corp., Verizon, Goosehead Insurance and Marsh & McLennan, though the portfolio is only approximately 34% leased. According to HFF, replacing the project would cost more than $357 million.

Blackstone Group acquired Solana in 2014 for $180 million from Five Village Circle Holdings LP. The deal included a Marriott Hotel and some land. Blackstone will hold onto both hotel and land.

Read More at Dallas News

Connect with HFF


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags:

Comments are closed.