Wednesday, January 7, 2009

Holliday Fenoglio Fowler Brokers $450M in New Loans

HFF Closes Large-balance Loan Sales Totaling $386.25M on Regional Malls

PITTSBURGH, PA--Through its Loan Sale Advisory services, HFF exclusively represented Principal Commercial Funding II, LLC (PCF II), a joint venture between Principal Financial Group and U.S. Bank N.A. in consummating the sale of two large-balance performing loans on three regional malls owned and managed by General Growth Properties of Chicago and located in secondary and tertiary markets.

PCF II originated the loans in November 2007 for securitization. The loans had five-year terms at origination and were underwritten on an interest-0nly basis. The three malls include the Fox River Mall (top left photo) in Appleton, WI; The Oaks in Gainesville, FL; and Westroads Mall in Omaha, NE.

The loans were sold servicing released.

For additional information, please contact:

Stuart Salins, Senior Managing Director, 312 528 3678,

Whit Wilcox, Senior Managing Director, 212 632 1825, (top right photo)

William Mitchell, Managing Director, 312 980 3607,

HFF arranges $16.3M refinancing through Freddie Mac for West Texas multifamily community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $16.3 million refinancing through Freddie Mac for Ashton Pointe, (middle right photo) a 366-unit multifamily community in Lubbock, Texas.

HFF senior managing director Mona Carlton (middle left photo) worked exclusively on behalf of McDougal Companies to secure the 10-year, 5.64% fixed-rate loan, which will be also be serviced by HFF.

Over the past 26 years, the McDougal Companies has grown into four separate divisions including McDougal Properties, McDougal Realtors, McDougal Land Company and McDougal Construction.

Ashton Pointe is located at 308 Frankford close to West Loop 289 in Lubbock. Completed in three phases (1996, 2000 and 2003), the property is currently 92% occupied.

MONA K. CARLTON, HFF Senior Managing Director, (214) 265-0880,
KRISTEN M. MURPHY, HFF Associate Director, Marketing (713) 852-3500

HFF secures $44M refinancing on behalf of Walton Street Capital and T. Stacy and Associates for downtown Austin property

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has secured a $44 million refinancing of a downtown office property in Austin, Texas owned by a joint venture between Walton Street Capital and T. Stacy and Associates.

HFF managing director Andy Scott (middle left photo) and associate director Brandon Chavoya worked exclusively on behalf of the borrower in arranging the 30-month, adjustable-rate loan with CapitalSource Finance, LLC.
Loan proceeds will facilitate future lease-up and fund capital improvement costs associated with the property.

The partnership purchased the property in 2004 and plans to hold it for continued value creation and future development initiatives.

“The property represents one of the most ideal locations in downtown Austin,” said Scott.

Comprised of a full city block in one of the primary growth corridors in downtown Austin, the property is situated at the intersection of 6th Street and Congress Avenue and is within walking distance of the Texas State Capital, the Austin Convention Center and the Federal Courthouse.

The property includes the 261,609-square-foot Bank of America Building (515 Congress), (middle right photo) a vacant parking garage situated on a 0.34 acre land parcel, a 0.48 acre land parcel currently improved with a 90,000-square-foot vacant commercial building, and a 0.81 acre covered land parcel that is scheduled to be developed into a 1,150-space parking garage.

The 26-story Bank of America Building is currently 90% leased to tenants including Bank of America, BDO Siedman, LLP and Manpower.

J. ANDREW SCOTT, HFF Managing Director, (214) 265-0880,
C. BRANDON CHAVOYA, HFF Associate Director, (214) 265-0880,
KRISTEN M. MURPHY, HFF Associate Director, Marketing, (713) 852 3500,

HFF secures $3.5M financing for Homewood Suites – Keystone at the Crossing in Indianapolis

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $3.5 million in financing for a 116-room Homewood Suites (bottom left photo) in northern Indianapolis, Indiana.

Working on behalf of the borrower, HFF managing director Jon Everson (bottom right photo) placed the 10-year, 6.0% fixed-rate construction/permanent loan with a correspondent life insurance company lender.
HFF will service the non-recourse loan. Proceeds from the loan are being used to renovate the hotel as per the requirement of Hilton’s license extension and Product Improvement Plan.
The Borrower is affiliated with an Indiana-based hotel management company employing approximately 1,100 associates and representing nearly 1,900 sleeping rooms.

Homewood Suites is located at 2501 East 86th Street close to Interstate 465 and just west of Keystone at the Crossing.
All suites feature fully-equipped kitchens with refrigerator, microwave and work spaces with two-line speaker phone including data ports and voicemail. Hotel amenities include an outdoor pool, fitness center, business center and complimentary high-speed wireless internet access.

JONATHAN P. EVERSON, HFF Managing Director, (317) 630-3191,
KRISTEN M. MURPHY HFF Associate Director, Marketing (713) 852-3500