JANUARY 7, 2021
Balfour Pacific Acquires Westpoint I in Dallas
Balfour Pacific Capital Inc. is pleased to announce the acquisition of its third BPRE V asset. Westpoint I, a six-storey office building in Dallas, Texas. The Transaction closed on January 7, 2021.
Westpoint I is a 91% leased, 150,019 s.f. office building located on a 5.3-acre site with 588 surface and underground parking stalls. The property is in the Las Colinas submarket, a preferred destination for major corporations given its proximity to the DFW International Airport. The site offers excellent highway connections to the Dallas metroplex and is positioned between two major mixed-used developments that will elevate the area’s amenity base once complete.
Balfour Pacific’s Managing Partner, Mark Scott, commends the Balfour team for the successful transaction. “It is a testament to the firm’s legacy, our team and our growing relationships that we are able to continue to find value in the middle of this challenging economy.” He adds, “Westpoint I ticks many boxes for us. It’s a stabilized property anchored by investment-grade credit, but with value-add characteristics and significant upside. This is our second acquisition in Dallas, which is one of our key target markets. We are also pleased to invest alongside Cawley Partners, a leading Dallas-based investor and the originator of this opportunity.”
About Balfour Pacific: Balfour Pacific Capital Inc. is a private equity real estate firm focused on value-added investments in the United States. Should you wish to learn more about Balfour Pacific, please visit our website, www.balfourpacific.com.