"We are excited to add this extraordinary property to MSD Capital’s real estate portfolio," said Coburn Packard, co-head of MSD Capital’s real estate group. "Together with The Retail Connection, L.P. and our other partners, the MSD team looks forward to working with our neighbors to further enhance what already is regarded to be the premier street retail district in Dallas."
In total, the Knox district encompasses 14 square blocks located adjacent to the Katy Trail at the convergence of some of the highest-end neighborhoods in Dallas, including Highland Park. The acquisition totals approximately 11 acres with 170,000 leasable square feet of retail and 165 apartments, with current retail tenants including Crate & Barrel, Sur La Table, Trader Joe’s, Pottery Barn, Pottery Barn Kids, Z Gallerie, lululemon, Kate Spade and others. The district also features several unique dining options, including Taverna, Toulouse and Up on Knox.
"This investment represents a continuation of MSD Capital’s longstanding strategy of investing in irreplaceable real estate in dynamic, growing markets," said Barry Sholem, co-head of MSD Capital’s real estate group.
About MSD Capital, L.P.
MSD Capital, L.P. is the private investment firm that was established in 1998 to exclusively manage the capital of Michael Dell and his family. The firm utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. MSD Capital’s team operates from the firm’s offices in New York, West Palm Beach and Santa Monica.
MSD Capital’s Real Estate Group pursues a value-oriented investment strategy that seeks attractive risk-adjusted returns, generally in "forever" real estate with significant barriers to entry. The team invests across most real estate asset classes, and invests in existing properties, value-added assets and ground-up development opportunities, as well as operating companies where real estate expertise and/or relationships can add value.
For additional information about MSD Capital, L.P., please visit www.msdcapital.com.
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SOURCE MSD Capital, L.P.