A London-based investment firm is the new owner of a 20-story office tower near Highland Park.
An affiliate of Lone Star Funds acquired Premier Place, a roughly 458,000-square-foot high-rise at 5910 N. Central Expressway near SMU, the firm announced Thursday. Chicago-based Glenstar was the seller.
Financial terms were not disclosed. Lone Star Funds did not immediately respond to questions about the deal. The Dallas Central Appraisal District values the Class A office property at $100.5 million for tax purposes.
“Premier Place represents an opportunity to acquire a high-quality office asset in Dallas that directly addresses demand being driven by continued population growth and corporate relocation momentum,” Jérôme Foulon, global head of commercial real estate at Lone Star, said in a statement. “We continue to see compelling opportunities to invest in well-located, institutional-quality properties where our disciplined investment approach and hands-on asset management capabilities can create long-term value.”
The high-rise includes a 62,000-square-foot Life Time Fitness as well as a renovated lobby, lounge and bar, and courtyard. The property was most recently renovated in 2023. The office tower is adjacent to the popular mixed-use Mockingbird Station development.
Glenstar will stay on as the property’s manager. The Chicago-based firm had owned the tower since 2019, paying a reported $140 million to purchase it. The high-rise opened in 1985. Anchor tenants include Life Time, Merrill Lynch and Amwins.
JLL’s Jonathan Napper, Macki McKim, Bailey Wood, Mike McDonald, Rett Daugbjerg, Alex Fronterhouse and Blake Tyson advised on the deal. Napper declined to answer questions about the transaction.
The office deal is the latest to be announced in Dallas-Fort Worth.
Dallas-Fort Worth is one of the nation’s strongest office markets as rents for Class A properties hit a record high. Net absorption from known move-ins and office exits are expected to show the strongest occupancy gains in North Texas in nearly a decade, according to a second-quarter 2026 office report from real estate firm Cushman & Wakefield.