Dallas company plans $13M upgrade to building home to Baker Donelson
Downtown office building 211 Commerce has sold for an undisclosed sum and will be given a $13 million update.
The new owner is Dallas-based Velocis, a private equity real estate manager. According to a release, Lincoln Property Company, also based in Dallas, is a joint venture partner in the deal. Lincoln will provide property management, leasing and construction management services.
The seller was Sun Life Assurance Company of Canada, a related entity of which paid $47.13 million for the building in March 2012. Thursday's release does not include a transaction price, and the Davidson County Register of Deeds had not recorded the deal at publication time.