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Arden Group Enters DFW with Two Buys

DALLAS-In its first Dallas-area moves, a fund run by the Philadelphia buyer snagged a stake in the 258-room LeMeridien Galleria and bought the 243,109-square-foot Atrium at Office Center in Las Colinas out of foreclosure.

By Amy Wolff Sorter | Updated on July 25, 2013

DALLAS-Arden Group, operating through its discretionary fund, Arden Real Estate Partners I, has commenced buying activity in and around Big D, adding a luxury hotel and office building to its portfolio. The Philadelphia investor has acquired a large stake of the 258-room LeMeridien Galleria from HEI Hotels & Resorts, and closed on the 243,109-sqare-foot Atrium at Office Center, a foreclosed office building in Las Colinas. Capmark Financial was the seller.

Though the office building at 1320 Greenway Drive and hotel in the Galleria submarket at 13402 Noel Rd. are different product types, Arden Group CEO Craig A. Spencer tells GlobeSt.com that both properties fit squarely with the company’s investment strategy.

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