CityLine

October 4, 2016 Comments Off on Transwestern, Mirae Under $825M Contract for State Farm’s Office Views: 401 Dallas-Fort Worth, Houston-Galveston, Texas News

Transwestern, Mirae Under $825M Contract for State Farm’s Office

Houston-based Transwestern and South Korean investment manager Mirae Asset Global Investments are under contract to acquire four buildings within the State Farm Insurance Campus/CityLine development in Richardson, TX. The duo will pay $825 million for the buildings, which total 2.2-million-square feet.

The transaction will be the first in the southwest for the Seoul-based Mirae. According to Real Capital Analytics, the deal will be the largest in the region since 2013.  Bloomington, IL-based State Farm has reportedly been selling and leasing back its properties since 2013.

CityLine DFW is a 186-acre transit-oriented project being developed by KDC. The development is at the intersection of Central Expressway and President George Bush Turnpike, and features residential, office and retail developments.

Read More at Pere News

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