Canadian Equity Firm Splurges in Texas
- Aug 24, 2015
By Liviu Oltean, Associate Editor
Private equity firm Dalfen America Corp. (DAC) has been on a shopping spree in the Lone Star State. The firm announced last week that it has closed on a three-building industrial portfolio in Houston only two months after acquiring another industrial portfolio in McAllen, Texas.
DAC’s newest acquisition consists of two warehouses and one office building totaling 201,000 square feet. The assets are located two miles from Union Pacific’s Englewood and Settagast Intermodal terminals and offer quick access to I-10 and I-620. According to the announcement, Joseph Smith of CBRE represented Lockwood International in the sale leaseback transaction to DAC.
The two deals amount to almost one million square feet of industrial space acquired by the firm in the region over the past two months.
“Both people and businesses continue to flock to Texas in droves. Even with the decline in the energy sector, we believe that the state’s economy is sufficiently diverse and will remain one of the nation’s top performing markets for the foreseeable future,” Sean Dalfen, president & CIO, said in a prepared statement.