Brookwood acquires The Embassy in Texas
Massachusetts-based private equity firm Brookwood Financial Partners has bought a 10-storey, multi-tenant office property. The newly-acquired building stands on the Las Colinas development complex of Irving Texas, according to The Middle Market.
The purchased building is known as The Embassy. Brookwood is expected to pour in more than $2 million in fresh capital into the said property, the report stated.
Built in 1982, The Embassy contains over 196,000 square feet of space. The property serves as a preferred location for regional sales offices, professional service companies, and back-office operations of regional and national corporate clients, the report detailed.
Brookwood plans to make improvements in the said office property. Renovations in the lobby, hallways, bathrooms, entrances, common area, and elevators are currently being carried out, the report said.
Upgrades to the landscape of the Embassy are expected to take place. In addition, the buildings mechanical systems are expected to be enhanced, The Middle Market reported.
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