Thursday, November 6, 2008

HFF arranges $9.74M in financing for two office towers in Oklahoma City

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $9.74 million in financing for Atrium Towers, (top left photo) twin six-story office buildings totaling 156,106 square feet in Oklahoma City, Oklahoma.

Working exclusively on behalf of Principle Equity Management, HFF managing director Tucker Knight (middle right photo) and real estate analyst Brad Ballard placed the seven-year fixed-rate loan with ViewPoint Bank. Loan proceeds were used to acquire the property.

Atrium Towers is located just northwest of downtown Oklahoma City near the intersection of Interstate 44 and Centennial Expressway and is presently 95% occupied.

“Closing this transaction in the midst of the current financial and credit crisis is a testament to the quality of location, demographics, sponsorship and the overall marketability of Atrium Towers,” said Ballard.

“Considering the difficulty of financing a tenant in common (TIC) transaction in today’s world, we commend ViewPoint Bank for diligently working with us to bring this closing to fruition,” added Knight.

Principle Equity is a fully integrated real estate investment firm, which provides acquisition, asset management, leasing and disposition services to passive investors seeking opportunities to invest in institutional quality real estate.

Currently, the company manages approximately 2.17 million square feet of commercial real estate with an average occupancy rate of 92% and a capitalized asset value exceeding $350 million.


HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.


CONTACTS:

Tucker S. Knight, HFF Managing Director, 713 852 3500, tknight@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

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