ARLINGTON, TEXAS– SkyWalker Property Partners acquired the 108,170 square-foot Chase Bank Center in West Arlington with plans for $600,000 in capital improvements.

Arlington-based SkyWalker Property purchased the four-story office building, which is 90% leased, for the portfolio of Hangover Opportunity Fund LP from Dallas-based Rosemont Realty.

"This investment is slightly different from our others because it's stabilized. The upside really lies in lease rollover," says Clint Holland, director of acquisitions and asset management for SkyWalker. "Historically, we've taken the risk upfront with occupancies at the time of purchase of 50% or below. That's not the case with Chase Bank Center."

The property is located at 1301 S. Bowen Road, less than three miles from The University of Texas at Arlington.

SkyWalker's affiliate, Coldwell Banker Commercial DFW, will oversee leasing. Beaux Riley, senior leasing agent of Coldwell Banker Commercial Alliance DFW, and Gigi Grubbs, property manager, are assigned to the property.

Chase Bank Center is Hangover Opportunity Fund's first acquisition of the 2014. In 2013, SkyWalker Property acquired 11 commercial properties with a total capitalization of $18.3 million. The $100 million fund invests in office, industrial, retail and residential properties, most often in value-add and distressed scenarios.