Photo: Gautam Krishnan / Unsplash. Illustrative stock photograph; not a property or company discussed in this article. A huge Dallas-area office campus just sold out of receivership, 59% leased with $223 million of defaulted debt behind it. The buyers think another $100 million fixes it. Lincoln Property Co. and Cross Ocean Partners bought The Colonnade, a three-building, 14-story campus on the Dallas North Tollway in Addison, in a receivership sale, Commercial Property Executive reported. The Real Deal, citing The Dallas…
MarketTexas
Addison’s Colonnade Sold Out of Receivership. The $100 Million Fix Includes a Golf Simulator.
Lincoln Property and Cross Ocean Partners buy Addison’s Colonnade out of receivership, with a reported $100 million renovation plan and significant vacant space.
