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 Vacant
Columbia/HCA
Hospital on 42 Acres
Nashville, TN
PNL acquired this
hospital, which was
decommissioned by
Columbia/HCA,
subject to a
restrictive covenant
prohibiting future
hospital use.
Columbia/HCA had
recently completed a
new major hospital
complex
approximately one
mile away. PNL
ultimately sold the
500,000 square foot
asset for use by a
faith-based
organization.
 60% Occupied 220,000 Square Foot Office Tower
Shreveport, LA
Though PNL had
purchased this Class
A asset as a long
term hold, we closed
on an unsolicited
offer from a local
buyer after
increasing the
occupancy to 70%
within four months
of acquisition.
 117,000 Square Foot Class B Office Tower
Mobile, AL
PNL purchased this
office building from
a private seller who
took back a second
mortgage since the
existing conduit
debt was
low-leverage and had
a prepayment
lockout. We
substantially
renovated and leased
up the building and
subsequently
refinanced it prior
to selling the
property five years
after acquisition.
 2,300 Acre Master-Planned Development
Dallas, TX
Mountain Creek was
purchased by a PNL
partnership in 1995
in joint venture
with the Resolution
Trust Corporation.
The prior developer
had already
completed over $25MM
in infrastructure in
what was the largest
planned development
within the city of
Dallas. PNL acted
as master developer
selling off numerous
parcels for
residential,
commercial and
industrial use.
 93,000 Square Foot Landmark Office Building
Winnipeg, Manitoba
The Paris Building,
when built in 1915,
was the tallest
building in
Winnipeg. When the
subject property was
acquired from
MetLife, it was 100%
vacant, having lost
its primary tenant.
PNL substantially
updated the building
and achieved
lease-up of 95%
prior to sale.
 Redevelopment
of Former RadioShack Headquarters
Fort Worth, TX
RadioShack sold the
1.2MM square foot
Tandy Center to PNL
in 2001 with a
master lease until
its new headquarters
was completed in
2005. PNL has
redeveloped the
north tower into
312,000 square feet
of Class A office.
Subsequent phases
will include the
100,000 square feet
central block and a
second tower to
developed as either
office or
condominiums.
 $40MM Joint Venture
Acquisition of
19,500 Acre Ranch
Edna, TX
PNL purchased this
ranch to be
subdivided into very
large tracts as
hunting and
recreational land.
This acquisition
came to us when the
majority partner
wanted to liquidate
their position. Our
joint venture
partner is an
experienced ranch
buyer.
 843,000 Square Foot Class A Office Tower
Dallas, TX
When IPC US REIT,
the Reichmann
family’s U.S. office
vehicle, was
considering
purchasing this
downtown Dallas
property, PNL
offered to be their
local partner.
Shortly after
acquiring the
property for
approximately one
third of its
replacement value,
the joint venture
leased three floors
to Trammell Crow and
undertook major
plaza-level
renovation of the
property. Two years
later, PNL arranged
an off-market sale
of 2100 Ross Avenue
for a solid profit.
 142,000
Square Foot Class A Office Tower
Regina, Saskatchewan
The real estate
downturn in Canada
in the mid-1990s had
lowered net rents on
this property to
only C$3.17. These
low rents combined
with the short lease
of the 91% tenant
made the property
unattractive. PNL
saw this as an
opportunity since
the government
tenant was likely to
renew and rents were
likely to rebound at
lease maturity. PNL
tripled the net
rents prior to
selling the
property.
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