Dallas Morning News: International investor raises its stake in Plano’s $3 billion Legacy West
Backer of $3 billion Legacy West Development Ups Stake in Project
Atlanta-based Invesco Real Estate is already the lead equity player in the hugely successful Plano Legacy West mixed-use project. Yet, the company recently acquired a larger ownership share of the project from developers Fehmi Karahan and Robert Shaw.
Karahan Cos. and Shaw’s Columbus Realty continue to participate in the ownership of Legacy West with Invesco. The partners are about to break ground on the next phase of Legacy West — a six-story combination office, retail, and apartment building. The planned location is across the street from Liberty Mutual Insurance’s high-rise office campus.
Karahan confirmed that the real estate arm of the international investment adviser has acquired a bigger stake in Legacy West. Invesco, which has more than $1 trillion in assets, was also one of the first major financial backers to step up and support the 250-acre Legacy West project when the development kicked off four years ago. However, no disclosure of the deal’s terms are available. For the full article, visit https://www.dallasnews.com/business/real-estate/2019/02/07/international-investor-raises-stake-in-legacy-west.