PM Realty Group
1000 Main St, Suite 2400
Houston, Texas 77002
MEDIA CONTACT:
Whitney Williams
Marketing & Communications Manager
PMRG
(713) 209-5935

Aug 9, 2006

PM REALTY GROUP BROKERS SALE OF NORTH DALLAS MEDICAL OFFICE BUILDING

Dallas, TX - PM Realty Group (PMRG), a national, full-service commercial real estate firm, recently brokered the sale of Northpoint III, a Class A medical office building in North Dallas. Medical Edge Healthcare Group purchased the property in late July. Located at the northeast corner of Interstate 635 and Greenville Avenue, Northpoint III offers approximately 38,794 of rentable office space on 2.78 acres of land. 

In August 2005, PMRG and Quorum Equities Group, LLC jointly acquired a majority interest in Northpoint Professional Limited, which owned Northpoint III. One month later, the PMRG and Quorum partnership performed a .5 million redevelopment of the property, which included major capital improvements and extensive tenant renovations.

Throughout the redevelopment process, PMRG served as property manager and provided leasing services for the property.

"This transaction is a perfect example of how PM Realty Group can offer the full scope of services for medical office buildings - from design and development, to management, leasing and sales," said Stephannie Mower, executive vice president and managing director - investment services for PMRG. "With the growth of the medical office building sector around the country, and especially in the Dallas/Fort Worth area, we believe this transaction is the first of many build/lease/sell scenarios PMRG will complete."

About PMRG

PMRG merged operations with Madison Marquette in June 2018 to create a new leader in commercial real estate. The firm offers PMRG’s leasing, property management, investment management and development services, combined with Madison Marquette’s specialized development, investment and marketing expertise. Madison Marquette’s strength in retail and mixed-use assets joins PMRG’s office, medical, industrial and multi-family capabilities to provide national leadership across asset classes. PMRG’s dominance in the southern US combines with Madison Marquette’s presence in primary gateway markets on both coasts to serve the top institutional owners and investors in the industry. The company provides leasing and management services to a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at over $6 billion. The combined company is headquartered in Washington, DC with a major presence in Houston, TX. With 600 professionals in 12 regional markets, the merged firm is a member of the Capital Guidance group of companies.