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Centex Weds German Capital for Sale-Leaseback

DALLAS-A well-heeled German family gets a 40,250-sf office building, a 12-year tenant and an option to buy more in a high-growth area. Centex, in turn, gets an immediate exit strategy for future product on its land mass along Texas 121.

By Connie Gore | Updated on November 07, 2002

DALLAS-Centex Commercial Development and German investors, buying through Dallas-based Keystone Strategies USA LP, have struck a sale-leaseback for a new building on five acres in the Vista Ridge Corridor near Lewisville. But, GlobeSt.com is told, that’s just the beginning of the relationship.

Mark A. DeMattia, Keystone’s acquisitions director, confides that the investors have options on future Centex buildings in the immediate area, delivering the Dallas-based builder with an up-front exit strategy for office product that might rise on its Texas 121 land mass. Until then, the buyer gets a 12-year tenant in Centex Home Equity Co. and a 40,250-sf building with enough land to expand, a strong consideration at this point.

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