Lake Vista

LEWISVILLE, TX (DALLAS)

Lake Vista is a four-building, 488,000-square-foot office property in Dallas, TX, one of the country’s strongest office markets. Appian II partnered with C-III Capital Partners to acquire the property. The property was purchased 100% leased, but the seller, a dysfunctional tenants-in-common (TIC) group, could not refinance its debt to fund the TI Allowance for a backfill anchor tenant. We recapitalized the asset to enable most TICs to exit while a few rolled into the new venture. We restructured the anchor lease (50% of total square feet) from a gross convention to net and reset their lease term to ten years. In November 2019, we sold two of the four buildings.

FUND
Appian Investments II

STATUS
Currently Owned

SIZE
±488,000

YEAR ACQUIRED
2017