Regent Properties Expands Texas Portfolio with Trammell Crow Center Purchase
Posted on 03/12/2022
Regent Properties, LLC is a vertically-integrated real estate investment management and development firm. On March 10, 2022, Regent Properties acquired the Trammell Crow Center, a 50-story, 1.2 million square-foot, Class-A office tower located at 2001 Ross Avenue. Regent Properties purchased the property from institutional investors advised by J.P. Morgan Global Alternatives. Terms of the transaction, which marks Regent’s third investment via Regent Opportunity Fund V, were not disclosed. The estimated price is more than US$ 600 million.
Trammell Crow Center is among the tallest buildings in Dallas.
In less than 10 months, Regent Properties has acquired more than US$ 1.2 billion of real estate across Texas and the Sun Belt.
In November 2004, Crescent Real Estate Equities Co. sold a 76% share of the Trammell Crow Center and Fountain Place skyscrapers in downtown Dallas to JPMorgan Investment Management. JPMorgan Investment Management also bought a 60% share interest in the Crescent buildings in Dallas and the Houston Center and Post Oak Central projects in Houston.
816 Congress Ave
On January 27, 20222, Regent Properties acquired 816 Congress (Address: 816 Congress Ave, Austin, TX 78701), a 435,000 square foot Class A office tower in Downtown Austin for US$ 174 million from Cousins Properties. Cousins Properties bought 816 Congress for US$ 102.4 million back on April 26, 2013.
Also during 2021, Regent acquired a portfolio of four high-rise commercial office buildings in downtown San Diego for US$ 420 million and opened a second corporate headquarters in Dallas to support its investment strategy.
Regent has been an active and successful investor in Texas for more than 30 years, and now owns and operates more than 3.2 million square feet of assets throughout the state, including Legacy Central, a 84-acre project that is also in the Dallas-Fort Worth MSA.
Meadow Park Tower
On March 10, 2022, Dallas-based Bradford Cos. purchased the Meadow Park Tower, a 16-story high-rise at North Central Expressway and Meadow Road. Built in 1987, the more than 260,000-square-foot office building sale was brokered by Colliers International.
Keywords: JPMorgan Chase & Co.
