Trinity Private Equity Group, a Southlake-based investment firm, acquired a North Dallas office building in the city’s Park Central neighborhood from New York-based Red River Asset Management after a substantial renovation.
Terms of the acquisition were undisclosed. In 2013, Red River Asset Management acquired Hidden Grove, a four-story, 232,389-square-foot office building at 12404 Park Central with a parking garage, for more than $15 million.
The building had gone largely unnoticed by large institutional investors because the building, once the headquarters for Steak and Ale in 1987, had a little “hair,” on it because of its large floorplates and need for upgrades, said Red River’s Bruce Stern shortly after the acquisition.
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