The Dallas Business Journal has named the massive deal involving one of North Texas’ premier office towers, The Towers At Williams Square the Best Commercial Property Deal of 2015. In the transaction Apollo Global Real Estate of New York and Vanderbilt Partners of Chicago acquired the Towers at Williams Square for $330 million in October 2015.
The 1.4 million-square-foot complex, popular for the “The Mustangs of Las Colinas” statue featuring nine bronze mustangs in its central plaza, includes one 26-story office tower flanked by two 14-story towers and an additional five-story building.
The complex sits on 16 acres next to Lake Carolyn in Irving. Apollo Global and Vanderbilt Partners, along with a small percentage of equity from Hillwood, bought the Towers at Williams Square from the Brooksdale Group of Atlanta, which paid $225 million for the complex in early 2012.
Since the acquisition in 2012, the Brooksdale Group spent $12 million upgrading the complex’s lobby, amenities and elevators. At the time of sale, 98 percent of the complex was leased.
Presented by Dallas Business Journal