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Healthcare REIT Puts Up $59M Plus for Pyramids

DALLAS-In an SEC filing, Healthcare Realty Trust reports paying $59.2 million for the 291,389-sf Pyramids at Park Lane. It's the two office towers' second pass in about one year.

By Connie Gore | Updated on August 01, 2008

DALLAS-Putting $59.2 million on the line, Healthcare Realty Trust has acquired the Pyramids at Park Lane, two class A office towers with 291,389 sf parked right beside its 250,000-sf North Central Medical Center. Both office footprints have Baylor Health Care System on the tenant roster.

The Nashville-based REIT closed the deal with Goddard Investment Group LLC of Atlanta in recent days, allowing the one-year owner to cross off another piece of Dallas real estate on its “to go” list. The Pyramids, positioned on 6.6 acres at 9101 and 9201 N. Central Expwy., came to market in May with two other class A office properties, with more than one million sf, in an opportunistic move to take advantage of value-add capital looking for landing spots, according to a previous interview with the seller.

Healthcare Realty didn’t return telephone calls to comment on the deal, which surfaced two days ago in an SEC filing. The seller indicated it was unable to comment and its sales team confined comments to a press release that was issued late last night. The Holliday Fenoglio Fowler LP team consisted of senior managing director Andrew S. Levy, director Todd W. Savage, director John Bourret and analyst Kelsey Roop.

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