Sold Properties & Investments

 
 

104 Clark, Cedar Hill

 

7 acres located in the heart of retail activity at a major thoroughfare at Beltline and Clark Road. Visible from US Hwy 67. Future planned for mixed use including 25,000 square feet of retail, four office buildings, and a mini warehouse facilites.


Estimated developed value is $7.5 million.

 

111 Elk Dr., Burleson

 

Paramount designed and developed this prototype store for Budget Rent a Car. Avis properties are Triple Net (NNN) investments held in a long-term portfolio.

This project was sold April 2019 with a portfolio of five Avis Rental Car facilities located in the DFW, Texas area.


IRR: 26% per annum

 

1229 Colorado, Arlington Texas

 

A 54,000 square foot warehouse/office complex purchased at 40% occupancy in December 1993. The Paramount team achieved 100% occupancy within 14 months. Sold for $2,192,770 in July 2005.

IIR: 45% per annum

123 Main, Grand Prairie

 

A combination of modern architecture with traditional flair, this 3-story, 18,500 square feet, professional office building located in the Downtown Business District was a build to suit for a client, the law firm of Thorne & Thorne & Skinner. Completed in 2002.
Occupancy: 100% as of 1/06

IRR: Owner-occupied

1410 Oakdale Road, Grand Prairie

 

4.83 acres of Warehouse/Industrial located within a high growth Industrial area of DFW Metroplex just 2 miles south of Hwy 183 and entrance to DFW Airport. Easy access from Trinity Boulevard and Carrier Parkway.

 

IRR: 17.6% per annum

 

2400 SW 3rd Street, Grand Prairie

 

13 acres frontage on SW 3rd, Freetown, and Twelve Oaks next to new $14 million Assisted Senior Care facility developed by Covenant Group.

IRR: 37% per annum

 

2700 Matlock Road, Arlington

 

4.83 acres being master planned for a 100,000 square foot Class A office center, located on the East side of Matlock overlooking Vandergriff Park. The City of Arlington has future plan for the Johnson Creek linear Park extension adjacent to the rear of the property.


Estimated developed value is $12 million.

 

2601 Matlock

 

Matlock Centre is a 27,000 square foot medical office complex consisting of 8 professional office buildings of 4,500 square feet each. The complex is located along the Matlock Corridor close to Arlington Memorial South Medical Center. Purchased in February 1999 and sold in May 2007.

IRR:  21%

 

2904 S. Cooper St., Arlington Texas

 

Paramount designed and developed this prototype stone for Avis Rent A Car. Completed in December 2004. Avis properties are Triple NST(NNN) investments held in a long-term portfolio.

 

This project was sold April 2019 with a portfolio of five Avis Rental Car facilities located in the DFW, Texas area.

IRR: 26% per annum

 

 

3030 Matlock

 

The final phase of the $50 million master planned Lakes of Matlock development is a 60,000 square foot, two-story office building featuring masonry stone and glass, and a state-of-the-art rooftop heliport. The office offers scenic views and access to Johnson Creek picnic area and lake.

 

Occupancy: 100% as of 2006

 

IRR: 33% income and equity per annum

 

3020 Matlock

 

Located at the northwest entrance of The Lakes at Matlock development is a two story, 8,800 square foot office building, nicknamed “The Castle” featuring high turrets and Austin stone façade, a first for the area. Completed in August 1999 and sold in June 2003.

 

Occupancy: 100%

 

IRR: 47%

515 S Carrier, Grand Prairie

 

The 8,800 square foot retail strip center, which was designed, developed and built by Paramount Investments, features stone and glass façade with protective awning. Tenants are EZ Corporation, Carrier Dentistry and Direct General Insurance.

 

Occupancy: 50% achieved in 6 months

 

IRR: estimated 21%

709 W. Pioneer Parkway, Grand Prairie


A 2,172 square foot one-story restaurant with 19,670 square feet of associated land. Tenant is a Mexican restaurant with multiple locations. Acquired in August 2000. The restaurants are Triple NNN investment held in current long-term portfolio.

IRR: 38% per annum

 

710 E. Hwy 67

 

Paramount designed and developed this prototype stone for Avis Rent A Car. Completed in December 2004. Avis properties are Triple NST(NNN) investments held in a long-term portfolio.

 

This project was sold April 2019 with a portfolio of five Avis Rental Car facilities located in the DFW, Texas area.

IRR: 26% per annum

 

Cooper Landing, Arlington Texas

 

Cooper Landing is an office park development consisting of seven Class A professional office buildings ranging from 3,000 to 6,000 square feet each and totaling approximately 36,000 square feet. The complex is located off of S. Cooper just one block from Arlington Memorial South Medical Center. Initial construction began in the fall of 2007.  The buildings were completed and sold to third parties.

 

Estimated Developed value is $7.9 million.

 

Interstate 20, Weatherford

 

6 acres acquired in March 2004 along I-20 frontage road, 1/3 mile east of Hwy 51 (Main St.) was sold in 2006 to Holiday Inn. Surrounding area is multifamily, office and a major retail development featuring a Super Target, Lowes, Kohl’s, as well as many national retailers.

IRR: 21%

 

The Arboleda

 

Developer Roland Stewart, President of Paramount Investments, and Carbon Landmark Company broke ground in the fall of 2006, on a $30 million 312 unit Luxury gated Multi-Family development in Cedar Park Texas, located within the Austin area. The developers reached 100% occupancy within the first 12 months of completion of the development, with rents exceeding their proforma by 10%.

 

This project was sold in March of 2008.

 

IRR: 32% annualized
www.arboleda-apts.com

 

The Franciscan

 

Part of Arlington’s first master-planned communities encompassing 418 luxury multi-family housing units The Franciscan and two office complexes, along the Johnson Creek corridor featuring a picnic area, lake and water fountains. The Franciscan combines Old World architecture with modern amenities including Club Room, Media Room, Business Center and Fitness Center.

 

IRR: 21% annualized

 

The Promontory, Cedar Hill

 

Paramount developed Cedar Hill’s first private gated community, called The Promontory, with 17 luxury estate homes valued from $1 million to $5.6 million. The highly deed restricted estates encompass a total of 118 acres with lake view sites and wooded lots. The community is minutes from Joe Pool Lake and Marina,
restaurant and Cedar Hill State Park.

 

 

The Resorts at Bear Creek

 

The Resort at Bear Creek was purchased in August of 2011.  This garden-style apartment community contains 304 units and is located inside the prestigious Bear Creek neighborhood in the Mid-Cities portion of the DFW Metroplex.  With easy access to seven major highway systems, the DFW International Airport, and numerous large employment centers, it is ideally located for the busy lifestyles of today’s commuters.  The Landings at Bear Creek is close to numerous major attractions such as Six Flags over Texas Amusement Park, Hurricane Harbor Water Park, the Ballpark at Arlington and the Dallas Cowboy’s Stadium.  The Resort at Bear Creek was 95 % occupied.

This project sold September 2015.

 

The Resort at Valley Ranch

 

 

The Resort at Valley Ranch is a 524 unit garden apartment community with 28 apartment buildings, 4 pools, luxurious interiors and lighted basketball and tennis courts.   Sprawling over 21 acres, the community is located inside the Valley Ranch master-planned development in Irving, Texas, directly across the street from the Dallas Cowboys practice fields.  Purchased in August of 2011, the community is ideally located in an affluent residential area combining numerous lifestyle advantages, a strong employment base and easy connectivity to the Dallas/Fort Worth Metroplex.  The Resort at Valley Ranch apartment community was 95% occupied. The Resort at Valley Ranch was part of a portfolio valued at over $86M.

This project sold August 2015.

 

The Resorts at Central Park

 

Purchased in August of 2011, The Resort at Central Park apartment community is located in Bedford, Texas in the heart of the DFW Mid-Cities area.  With 300 units, this garden-style community boasts easy access to seven major highways and DFW International Airport, close access to numerous major employers such as Harris Methodist HEB Hospital, the Great Southwest Industrial Park, and Centreport Business Park. The community includes an athletic center, two pools, spa, jogging trails and a racquetball court.

This project sold September 2015.

Westchase Ranch Resort

Paramount Inv Co-Gp  with Firmus Inc. acquired May 2017

 

03/13/2006 in the original amount of $157,440,000 through CMBS pool name – Wachovia Bank. Partnership acquired at significant discount under $45 million May 2017.

Projected IRR of the West chase Apts  25%

 

The Shops at Waterview Park

 

Developer Roland Stewart, President of Paramount Investments, and Carbon Landmark Company broke ground in the fall of 2006, on a $60 million master planned urban lifestyle center located in suburbia Duncanville within the Dallas/Fort Worth Metropolitan area. The development comprises more than 100,000 square feet of specialty retail space including a new 41,000 sq ft LA Fitness center, a 216 unit up-scale gated community known as the "Bella Ruscello" apartment community and a five-acre linear public park with hike-bike trails.