Friday, January 25, 2013

BoA Inks $105M Sale-Leaseback of Dallas Area Campus




National Commercial Real Estate News From CoStar Group





BoA Inks $105M Sale-Leaseback of Dallas Area Campus



Bracebridge Corp., a subsidiary of Bank of America, sold the Hallmark Center, a 553,799-square-foot complex in Addison, TX, to Select Income REIT (NYSE: SIR) for $105 million or $190 per square foot. The buyer funded the acquisition by using cash on hand and borrowings under its revolving credit facility.

BoA, which fully occupies the two buildings, inked a leaseback deal for the North Dallas Parkway campus, which is about 14 miles north of downtown...






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