Silver Tree Partners Takes Title to Richardson Office-Flex Property

6/12/2007 - Silver Tree Press Release

Addison based Silver Tree Partners, Inc. recently added to its growing portfolio, not only a new acquisition, but a new property class. The locally based developer and property owner recently took possesssion of the 83,000 square foot Office/Flex property located on the corner of 1501 North Plano Road and Collins Blvd. in Richardson, TX. Although the building stands vacant at closing, leasing plans have begun moving forward to re-tenant the property.

The acquisition comes right behind a slew of new leasing activitiy in the Richardson sub-market. "With such tenants as Yahoo, Blue Closs, and Countrywide either creating, or expanding their presence in Richardson, we believe Richardson is on its way back. No longer just as a telecom based sub-market, but with a true diversified tenant base with telecom, financial services, and technology industries. The acquisition will be a compliment to our other recent acquisitions in the recently closed Silver Tree Realty Fund II, L.P." says Paul Gardner, President of Silver Tree Partners. Silver Tree Partners has typically been an active investor in raw land and retail developments in North Texas; however we saw a true "value-add" opportunity in this asset which is poised to reap the benefits of a sub-market showing renewed strength following the telecom melt down between 2000-2003.

Silver Tree Partners, headquartered in Addison, Texas is a fully integrated real estate development and investment management group which focuses primarily in Central and North Texas. Over the last 10 years, the firm has built a diverse portflio of retail, office, residential, light industrial, land and mixed-use properties. For more information on Silver Tree Partners, Inc. please call 972-669-9955, or visit their website at Silvertreepartners.com

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