Money manager Fisher Investments has made good on its promise to focus its growth in Texas after exiting the West Coast, adding four office buildings to its real estate portfolio.
The financial services firm based in Plano, Texas, moved its headquarters to the Lone Star State in 2023 after the Washington State Supreme Court upheld a capital gains tax on its wealthiest residents. Fisher Investments, led by Dallas-based executive chairman, co-chief investment officer and founder Ken Fisher, managed over $299 billion of assets under management globally as of the end of last year.
The 46-year-old company acquired the four Dallas-area office buildings totaling 442,542 square feet of office space, including three office buildings sold by Billingsley Co. as well as the corporate headquarters of G6 Hospitality at 4001 International Parkway in Carrollton, Texas, a northern suburb about 20 miles north of downtown Dallas. G6 Hospitality is the parent company of the Motel 6 and Studio 6 brands.
Naj Srinivas, an executive vice president for Fisher Investments, confirmed the acquisitions of the four office buildings to CoStar News and said the properties will be used “simply for future expansion capacity.”
The additional real estate enhances the money manager’s Dallas-area headquarters at 6500 International Parkway in Plano. Fisher Investments did not immediately disclose its plans for its current headquarters and how this newly acquired real estate will play a role in the company’s expansion.
The four office buildings are within a half mile of Fisher Investments’ headquarters despite being located in a different municipality. The acquisitions come at a time when deal volume for office users purchasing their own office buildings rose about 10% through the third quarter of 2024, according to CoStar’s market analytics team. Companies such as Raising Cane’s, Associa and Delta Electronics are stepping in to buy office buildings they intend to occupy — reflecting an interest in growing their businesses in the Dallas-Fort Worth region.
