CITY OFFICE REIT ACQUIRES METRO DALLAS OFFICE PROPERTY FOR $28.4M

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LEWISVILLE, TEXAS — City Office REIT has acquired Lake Vista Pointe in metro Dallas for a purchase price of $28.4 million. Lake Vista Pointe is a 163,000-square-foot office property in Lewisville. The property was built in 2007 and is fully leased to Ally Financial Inc. through 2021. The acquisition is expected to generate a full-year cash net operating income yield of 7.8 percent. The deal was financed with an $18.5 million mortgage with a fixed 4.3 percent interest rate for 10 years.

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