DALLAS, Sept. 14, 2021 /PRNewswire/ - Long-time real estate investors Behringer and Orangestar today announced their partnership to acquire commercial office properties across the major metropolitan markets of Texas.
Relying on their combined management expertise, Behringer and Orangestar are evaluating acquisition opportunities that include the full spectrum of asset profiles, from those in need of minor repositioning or credit enhancement all the way to full property redevelopment.
The joint venturers' first acquisition occurred in July 2021 of McKinney Corporate Center I, a 3-story multi-tenant Class A office property located in the master-planned 2,000-acre Craig Ranch development north of Dallas in McKinney, Texas. The property's diverse tenant base includes companies from industries representing commercial building supplies, healthcare/insurance tech, home health care, residential mortgage origination, and coworking/executive suites, among others. Orangestar will provide daily property management and Behringer will provide investor relations.
About Orangestar
Over the span of 7 decades, Orangestar and its family of companies have been active investors in office, retail, and multifamily properties across the United States. Since the 1980s, Orangestar executives have led the successful development and disposition of various types of residential and commercial properties, including office buildings and shopping centers, across California, Colorado, Georgia, Ohio, Pennsylvania, and Texas.
source: https://www.prnewswire.com/news-releases/behringer-and-orangestar-announce-partnership-and-initial-acquisition-with-purchase-of-mckinney-corporate-center-in-mckinney-texas-301376607.html
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