DALLAS, April 30, 2013 — In recent Dallas commercial real estate news, The Dallas Business Journal (DBJ) has named the Sale of the Henderson Portfolio as one of the Top Commercial Property Deals 2012. You may view the full list of finalists here. The results of the DBJ’S competition were released in the Friday April 26th edition.
Metropolitan Capital Advisors (MCA) arranged the sale of the Henderson Portfolio on behalf of Andres Property Company to a newly formed investment partnership between CIM Group and Open Realty Advisors. The portfolio sold for in excess of $50mm.
The portfolio consisted of 28 prime inter urban retail buildings totaling 130,000 s.f. along with 14 acres of development fronting Henderson Avenue. The properties are all located between Central Expressway and Ross Avenue. Some of the properties are parking lots or vacant land while others house popular venues such as The Porch, The Dram and Capital Pub.
Open Realty, who works with such companies as Apple and Restoration Hardware, plans to add other retailers to Henderson. Development of the vacant tracts is likely but no definitive plans have been announced.
MCA Senior Directors Scott Lynn and Sunny Sajnani were responsible for negotiating the transaction on behalf of Andres Properties.
Since 1992, Metropolitan Capital Advisors has closed in excess of $8.7 billion of debt and equity transactions. National Real Estate Investor Magazine has consistently ranked MCA as one of the top CRE Financial Intermediaries in the US. MCA completed over $450,000,000 of commercial real estate financing during 2012.