Royal Tech Center in Dallas Sold
On September 16, 2015, CapHarbor Property Management ("CPM"), in conjunction with affiliate, TIC Properties Management ("TICPM"), facilitated the sale of the Royal Tech Center in Irving, Texas. After a recently negotiated long-term extension of the tenant lease, the property sold for over $24 million. Royal Tech Center consists of two office buildings occupied by a single tenant, totaling 216,772 square feet. TICPM's affiliate, TIC Properties, acquired the building as a tenant-in-common structured investment in 2005 for $22.2 million. TICPM has since handled the asset and property management responsibilities of the property.