Lone Star Real Estate Fund VII, L.P., a private equity fund managed by Lone Star Funds, has acquired Premier Place, a Class A office tower in Dallas, TX. The property, which spans 20 stories and totals 457,901 square feet, recently underwent renovations to offer modern amenities such as a fully renovated lobby, lounge & bar, courtyard, and a Life Time Fitness facility.
| Acquirer | Lone Star Real Estate Fund VII, L.P. (GB) |
|---|---|
| Target | Premier Place (US) |
| Type of Deal | Acquisition |
| Deal Value | Undisclosed |
| Close Date | 2026-07-23 |
| Announcement Date | Not disclosed |
| Sell-side Financial Advisors | JLL |
| Buy-side Financial Advisors | 4GC, Eastdil Secured, JLL |
| Sell-side Legal Advisors | Not disclosed |
| Buy-side Legal Advisors | Covington & Burling |
Deal Mechanics
The acquisition of Premier Place includes a 100% stake in the high-quality office asset. The property, strategically located near affluent neighborhoods like Highland Park and University Park, offers flexible floor plans ranging from 800 to 21,000 square feet.
Strategic Rationale
Lone Star Funds views this acquisition as an opportunity to capitalize on the growing demand for office space in Dallas driven by population growth and corporate relocation momentum. The fund aims to further enhance Premier Place's competitive positioning through active asset management, ensuring it remains a desirable destination for existing and future tenants.
Financial Context
Dallas has seen significant real estate development activity over the past few years due to strong economic expansion and population influx, making it an attractive market for investors. The acquisition of Premier Place aligns with Lone Star's investment philosophy focusing on well-located, institutional-quality properties in dynamic markets.
Advisors
JLL served as the sell-side financial advisor to Premier Place, while 4GC and Eastdil Secured provided additional buy-side advisory services. Covington & Burling acted as legal counsel for Lone Star Funds during this transaction.
Outlook
Lone Star's acquisition of Premier Place underscores its commitment to identifying and executing on investment opportunities that align with the firm’s long-term value creation strategy in real estate. With a strong tenant base and strategic location, the property is poised for continued growth under Lone Star's management.