Acram Group, Oak Hill Advisors Buy North Dallas Office Complex for $114.3M

DALLAS — A joint venture between Acram Group, an investment firm formerly known as JMC Holdings, and New York City-based alternative investment group Oak Hill Advisors has purchased Spectrum Center, a 614,000-square-foot office complex in North Dallas, for $114.3 million. The sales price equates to roughly $185 per square foot. Spectrum Center consists of two 12-story buildings. According to LoopNet Inc., the property offers amenities such as a fitness center, courtyard and an onsite restaurant, while users also have access to services such as banking, dry cleaning and daycare. Todd Savage of JLL represented the seller, Granite Properties, in the transaction. Jim Curtin and Ryan Pollack, also with JLL, represented the joint venture. Miami-based Rialto Capital provided an undisclosed amount of acquisition financing for the deal.