Skywalker Property Partners has expanded its office portfolio with the acquisition of Eagle Parkway One, a 73,747-square-foot building located at 2301 Eagle Parkway within the AllianceTexas master-planned development. The seller was Group O. The property was originally developed by Hillwood and sits within the 27,000-acre AllianceTexas project, which includes Perot Field Fort Worth Alliance Airport as a key anchor.
According to reporting from the Dallas Business Journal, Skywalker completed the purchase using a $200 million investment fund it manages. That vehicle is focused on acquiring distressed properties across the United States. Within that strategy, the firm is targeting assets that require physical improvements or are confronting maturing debt, positioning the fund to address both operational and capital structure challenges at the property level.
As part of its immediate business plan for Eagle Parkway One, Skywalker intends to undertake upgrades to the lobby and elevator areas. While no additional details on the scope or budget of the planned work were disclosed, the improvements are framed as enhancements to the building’s common areas rather than a comprehensive redevelopment. No purchase price or financing terms for the acquisition were made public in the available information.
The Eagle Parkway One transaction marks the fifth acquisition completed through Skywalker’s $200 million fund. Collectively, those five deals account for approximately $50 million of the fund’s total investment capacity. In addition to Eagle Parkway One, the fund has acquired a 232,541-square-foot office building at 429 LBJ Freeway in north Dallas. It has also purchased two industrial properties in Granbury, located southwest of Fort Worth, further diversifying the fund’s holdings across office and industrial assets.
The fund’s current portfolio demonstrates a focus on Texas assets, including both office and industrial properties, while adhering to its broader mandate of targeting distressed opportunities nationwide. By concentrating on buildings that need improvements or are facing upcoming debt maturities, Skywalker is aligning its capital with situations where active ownership and repositioning may be necessary. Additional details on occupancy, tenant mix, and future leasing or disposition plans for Eagle Parkway One and the other fund assets were not disclosed.
