A Salt Lake City-based real estate investment firm has bought a Las Colinas office high-rise.
Bridge Investment Group LLC through an affiliate purchased the 10-story Tower 1320 office building on Greenway Drive in Irving.
The 243,109-square-foot property was built in 1981 and was recently renovated.
Bridge Investment plans to make further upgrades in the building.
“The new ownership intends to invest heavily into the already strong amenity base at Tower 1320 with newly enhanced collaborative space for tenants, move-in ready suites, and upgraded common areas,” Bridge Investment’s Jeff Shaw said in a statement. “As a result of the recently completed and very exciting planned developments near Tower 1320, there is significant new energy near Tower 1320 and the dynamic Las Colinas submarket.”
Tenants in the tower include Children’s Medical Center, Service Link and Crosscheck.
Commercial real estate firm CBRE marketing the building’s sale by investor Arden Group. Terms of the transaction were not disclosed.
CBRE’s Evan Stone, Gary Carr, Eric Mackey, John Alvarado, Jared Chua, Robert Hill and Mary Claire Houseman brokered the transaction.
Peloton Commercial Real Estate has been hired by the new owners to lease the property.
Bridge Investment Group is private real estate investment management firm with $8.85 billion in assets. The company invests in apartments, offices, seniors residential and affordable housing.