Blackstone to Acquire Solana in Westlake Texas

Blackstone Group LP (BX) acquired the Solana corporate park near Dallas for $180 million in a bet on growth in the area’s office market, according to a person with knowledge of the investment.

Blackstone plans to spend about $110 million to renovate and lease up the half-empty property, said the person, who asked not to be identified because the deal is private. The seller was a bondholder group represented by CWCapital Asset Management LLC, which foreclosed after developer Robert Maguire defaulted on $395 million of debt in 2009, the person said.


About Cliff Bogart

Commercial Real Estate Broker, Commercial RE Instructor, CCIM Instructor, runner, triathlete, movie geek, father and husband.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s