Parmenter Gets $20M to Buy, Redo Dallas Office

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DALLAS-In a 45-day spin from the best and final to the close, Miami-based Parmenter Realty Partners has grabbed control of the 196,040-sf Two Forest Plaza. The deal has crossed the finish line with a $19.73-million loan for acquisition and repositioning costs.

“We have quite a bit of capital committed to it,” says Steve Bronner, managing principal of Parmenter Realty. The loan, provided by Paris-based Societe General, includes a reserve pool to upgrade the lobby and elevators plus underwrite tenant improvements and leasing commissions to reposition the 64%-leased, class B building at 12201 Merit Dr. and bump it to class A-minus status, he tells GlobeSt.com.