Hartman Expands Texas Portfolio
By
Three Forest Plaza in Dallas
Dallas— Hartman Short Term Income Properties XX Inc. recently announced that Hartman Three Forest Plaza LLC, a subsidiary, acquired Three Forest Plaza, a 19-story office tower in Dallas. The Dallas HFF office team represented the seller in the transaction and David Wheeler, Russell Turman and Julian Kwok represented the buyer. Hartman Three Forest Plaza LLC was represented by HFF’s Dallas mortgage brokerage team in the placement of acquisitions financing with Southside Bank at 50 percent LTV.
Three Forest Plaza is located in the Park Central submarket, at 12221 Merit Drive. The property provides easy access to Forest Lane, the I-635 and the North Central Expressway. The building is surrounded by North Dallas residential neighborhoods, the Medical City of Dallas and a growing amenity base that has several recently announced residential and retail developments under construction. According to Yardi Matrix data, the 366,549-square-foot green LEED-certified building was built in 1981, but underwent a cosmetic renovation in 2010. The property includes 2,500 square feet of retail space and 1165 parking spaces…
