The investment management arm of Transwestern, along with equity partner State Farm Life Insurance Co., has acquired 5320 Legacy Drive in Plano.
The 379,404-square-foot facility is one of three that make up The Campus at Legacy complex. It’s fully occupied by Denbury Resources Inc., and serves as the oil and gas company’s corporate headquarters.
The Campus at Legacy buildings were acquired by KDC from EDS in 2005. KCD redeveloped them, and took the 1.1 million-square-foot complex to 95 percent occupied.
KDC and its partner on the project, Spear Street Capital, continue to own the other two office buildings, which total about 800,000 square feet.
Laurie Dotter, president of Transwestern Investment Management, said 5320 Legacy met “specific investment criteria in terms of location, asset quality, and tenancy. The investment property is expected to provide stable cash flows and maintain its competitive position over a long-term period.”
The deal was put together by Transwestern’s Collin Comer, managing director of national acquisitions, and Jonathan Napper, vice president of acquisitions.