DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured $13.97 million in financing for Preston Trail Village, (top right photo) a 179,959-square-foot, grocery-anchored retail center in Dallas, Texas.
Preston Trail Village is located at 17194 Preston Road close to President George Bush Turnpike and the Dallas North Tollway in the Carrollton area of Dallas.
Working exclusively on behalf of Inland Western REIT, HFF managing director Kevin MacKenzie (middle left photo) and senior managing director Trey Morsbach (middle right photo) placed the three-year, fixed-rate loan with American Bank of Texas.
Proceeds were used to refinance the property.
Preston Trail Village is located at 17194 Preston Road close to President George Bush Turnpike and the Dallas North Tollway in the Carrollton area of Dallas.Originally completed in 1983, the property underwent a renovation in 2006 and is 90.3% occupied by tenants including anchor tenant Kroger, Bank of America, Dunkin Donuts and Hallmark Showcase.
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
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