ASG buys Forest Central retail property. (ASG Real Estate Co.)

ASG Real Estate Co., representing a consortium of offshore investors, purchased 97,601 square feet of the Forest Central Center in Dallas for $8.8 million.

ASG is said to have the backing of wealthy Kuwaitis. ASG President Walid Keilani would say only that the company represents "businessmen, more or less."

Deteriorating conditions at the retail center, located at Forest Lane and Central Expressway, could add substantial maintenance costs to the purchase price. But with the largest piece of undeveloped North Dallas land inside the LBJ Freeway loop not even a block away, paying more than $90 per square foot for the strip could prove to be well worth it to the …