RICHARDSON — Dallas-based Pillar Commercial, a full-service real estate firm that specializes in repositioning underperforming investment properties, has acquired the former Nortel campus at 2201-2221 Lakeside Blvd. in Richardson's Telecom corridor. The property, built in 1991 as the U.S. headquarters for Nortel Networks, was acquired from a group of creditors that had taken over the facility as part of Nortel's bankruptcy proceedings. Final approval of the Pillar transaction was granted by the bankruptcy court on May 10, 2011, and closing is scheduled for June 3, 2011. The property creditors were represented by the CB Richard Ellis team of Gary Carr, Russell Ingrum, Eric Mackey, Jack Fraker and Josh McArtor. Brian Carlton of HFF secured transaction financing through Viewpoint Bank.
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