Behringer and Orangestar Announce Partnership and Initial Acquisition with Purchase of McKinney Corporate Center in Mckinn, Texas
Behringer and Orangestar announced their partnership to acquire commercial office properties across the major metropolitan markets of Texas. They sought to create solutions for niche property sellers grappling with the economic uncertainty of post-COVID investment environment.
A combined management experience, Behringer and Orangestar are evaluating acquisition opportunities that include full asset profiles, from those in need of minor repositioning to credit enhancement. Both partners have over three decades of experience in commercial real estate investment
The joint venturers acquired McKinney Corporate Center I, a 3-story multi-tenant Class A office property located at the developer's 22,000-acre Craig Ranch in Mckinley, Texas. The property is
Using the highest value of the company, the multi-year-old acquisition of McKinney Corporate Center, a key development for both organizations, we strive to capitalize on eagles and receptacles
The new asset is a welcome addition to the current strategic commercial office portfolio in the northern suburbs' growth corridor. As compared with Behringer, we were attracted to this attractive asset's unique position in burgeoning
The property has approximately 120 234 rentable sq feet and is 100% leased. In the fast-growing metroplex, Behringer and Orangestar are planning to position the building with tenants and the larger Allen/McKinney submarket as the right combination of location, visibility, amenities and value. The property
Orangestar will provide daily property management and Behringer will help investors.
About Behringer Since its inception in 1989, Dallas-based Behringer, along with its affiliates, raised more than six billion dollars from public and private funds, joint ventures and separate managed accounts. Behringer offers strategic advisory, asset management, tax-deferred exchange and capital markets solutions focused on commercial office investment opportunities in Texas. For more information about Bhartinger, visit behringerinvestments.com.
About Orangestar Orangestar and its family of companies have invested in office, retail and multifamily properties across the United States over the last seven decades. Orangestar executives have successfully developed and sold several types of residential and commercial properties, including office buildings and shopping centers, across California, Colorado, Georgia, Ohio, Pennsylvania, and Texas. Orangestar's headquarters are in Dallas (Plano), Texas.
SOURCE Behringer SURCE SOSCE.