Dreien Opportunity Partners, LLC completed the acquisition of Home Office Building and surrounding 45 acres of land in Plano from J. C. Penney Company, Inc. for approximately $350 million.

An unknown buyer signed a contract to acquire Home Office Building and surrounding 45 acres of land in Plano from J. C. Penney Company, Inc. (NYSE:JCP) on August 12, 2016. J. C. Penney Company has selected a potential buyer from prospective bidders. The property is currently in a due diligence period. The deal is expected to close in late 2016. The sale proceeds will reduce its outstanding debt and help it manage its expenses. CBRE marketed the property in the sale. John Bralower, Justin Piasecki, Peter Steier and Ethan Blum of Avison Young arranged the debt and equity for the transaction. Dreien Opportunity Partners, LLC completed the acquisition of Home Office Building and surrounding 45 acres of land in Plano from J. C. Penney Company, Inc. (NYSE:JCP) for approximately $350 million on January 3, 2017.