Dalfen America Corp.

Dalfen America Corp.

October 11, 2016 14:02 ET

Dalfen America Closes Sale of Over $100 Million in Properties

DALLAS, TEXAS--(Marketwired - Oct. 11, 2016) -

Note to Editors: 7 photos are associated with this press release.

August marks another successful month for real estate investment and management company Dalfen America Corp., which sold over $100 million in properties across 5 states. The assets, which total 1,120,000 square feet, include Dominion Plaza in Dallas, Texas; Sharyland II in McAllen, Tx; Ameriplex in Indianapolis, Indiana; Fountain Oaks in Tampa, Florida; and a nine-building industrial portfolio with properties throughout the Carolinas.

"We believe that real estate is an on-the-ground business and the key to our success is our hands-on approach," said Sean Dalfen, president and CIO of Dalfen. "The purchase, operation and sale of these five projects really speak to the company's expertise. We see potential to create value in properties that other companies might overlook."

Carolinas portfolio, which consisted of nine-building industrial portfolio totaling 451,213 square feet, was the result of aggregating purchases from 2013 to 2015. The properties are located in Charlotte, North Carolina; Raleigh-Durham, North Carolina; and Greenville-Spartanburg, South Carolina. Notable tenants include General Electric and WorldPac. Christopher Norvell, senior managing director of HFF, arranged the transaction on behalf of Dalfen. MDH Partners, LLC, Atlanta-based real estate Investment Company, purchased the portfolio.

Sharyland II, located in McAllen, Texas, is a 129,440 square foot distribution building originally purchased as part of a portfolio from Property Ridge Trust. The building was sold vacant to a user. Edward Villareal, Managing Partner for South Texas Commercial Real Estate, represented Dalfen in the sale.

The Ameriplex property located in the Ameriplex Business Park in Indianapolis, Indiana is 83,116-square-feet and includes eight dock stations and four drive-in doors. Lockheed Martin is a major tenant in the building. Conrad Jacobs, director of industrial services at Newmark Grubb Knight Frank, represented Dalfen in the sale.

Fountain Oaks is 205,998 square foot mixed-use office/retail center located in Tampa, Florida. The retail center consisted of three prominently visible single-story buildings which were 92% occupied. The mixed-use center was purchased by a local investor. Marshalls and Dollar Tree are among some of the larger tenants. Mike Davis and Rick Brugge of Cushman Wakefield, arranged the transaction.

Dominion Plaza is a 14-story, Class A office tower and a 3-story office building located in Dallas, Texas. The combined 318,695-square-foot buildings are 83.5 percent leased and include a four-level parking garage and surface parking. Notable tenants include Xerox, State Farm, and Tenet Healthcare Solutions. John Alvarado from CBRE Capital Markets' Institutional Properties arranged the transaction for Dalfen.

About Dalfen America Corp.

Dalfen America Corp. (DAC) is a leading industrial estate investment manager and hands-on real estate operator that is focused on acquiring, developing and operating industrial real estate throughout the United States. DAC currently owns and manages millions of square feet of premier commercial properties in the Unites States and in Canada through its Canadian counterpart, Dalfen's Limited. DAC was recently named 2016 Top Real Estate Investor Operator by the National Real Estate Investor. For more information, visit www.dalfen.com.

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