Market sources say the question isn't whether or not the 85.2%-leased Summit at 545 E. John Carpenter Frwy. and 92%-occupied Tower at Lake Carolyn at 909 Lake Carolyn Pkwy. can draw offers, but rather if financing is available to get the deal, or deals, across the finish line. A Holliday Fenoglio Fowler LP team has been hired to quarterback this year's run at the market, grabbing the listing without competing against peers and packaging the play as a no-ask scenario with no firm call dates for offers. Dallas Central Appraisal District has a combined assessment of $73.76 million resting against the Lake Carolyn-fronting pair, which works out to nearly $101 per sf in a submarket where sales prices go considerably higher.

CBRE's SP III fund acquired the towers, both with high vacancies, in April 2005 from Chicago-based Equity Office Properties Trust Inc. Since then, the Los Angeles-based owner has pumped $4.5 million into renovating the 19-story Summit and $7 million into the 20-story Lake Carolyn tower, according to HFF on-line executive summaries.

It's been no secret in the market that CBRE's leasing team has been dangling sweetheart deals to pump up the buildings' occupancies for their resale. Sources say the strategy offered as much as $40 per sf in tenant-improvement allowances with unused capital able to be swapped for free rent. The unusual tact kept the owner from lowering base rents and cutting into net operating income streams.