DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced that it has arranged $9.2 million in financing for Block 22 of Southlake Town Square, (top right photo) a 35,436 -square-foot retail property in Southlake, Texas.HFF managing director Kevin MacKenzie (bottom left photo) worked exclusively on behalf of the borrower, Inland Western REIT to secure the two-year, fixed-rate loan through American Bank of Texas.
Loan proceeds were used to acquire the property. This is the second financing HFF has arranged with Inland and American Bank of Texas in the last month. A $13.97 million financing was arranged for Preston Trail Village in late February 2009.
Completed in 2007, Block 22 is 96% leased to tenants including Charles Schwab, FedEx/Kinkos and AT&T and is the most recent expansion of Southlake Town Square, an 807,000-square-foot mixed-use center.
The property is situated on nearly four acres at 1256 Main Street on the north side of East Southlake Boulevard between Summit and Central Avenues in Southlake, a western suburb of Dallas/Fort Worth.
“The quality of the asset, strength of the borrower, and the previous relationship established with American Bank of Texas made for a smooth process throughout the transaction,” said MacKenzie.
Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust focused on the acquisition, development and management of retail properties, including lifestyle, power, community and neighborhood centers, in addition to single-user net lease properties in locations demonstrating solid demographics.
As of September 30, 2008, the portfolio consisted of 334 properties nationally, which the company owned or had interests in, totaling in excess of 51 million square feet.
For further information, please see the company website at http://www.inlandwestern.com/.
Contacts:
Kevin C. MacKenzie, HFF Managing Director, (214) 265-0880, kmackenzie@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500 krmurphy@hfflp.com
No comments:
Post a Comment