AUSTIN, TX – HFF announced that it has arranged acquisition financing totaling $33 million on behalf of Divco West Acquisitions, LLC. The acquired properties were Prominent Pointe I & II (top left aerial photo), two adjacent Class A office buildings totaling about 261,243 square feet.
HFF placed the fixed-rate loan with a national life insurance company.
Remodeled in 2007, Prominent Pointe I totals 153,312 square feet. Prominent Pointe II was constructed in 2008 and has 107,931 square feet. The property contains multiple 2,000 to 35,000-square-foot suites designed for large users and is located at 8310 Capital of Texas Highway within one mile of the Arboretum development in the 360 Corridor of Austin. Prominent Pointe I & II has a combined occupancy of 90.6 percent.
The HFF team representing the borrower was led by managing director Doug Opalka (lower right photo).
Divco West is a privately owned real estate investment firm with offices in San Francisco and Boston. The company has acquired more than 22 million square feet of commercial space throughout the United States. Divco West and its affiliates are currently managing over $2 billion of equity. Divco West’s management team has a 20-year history of structuring creative and complex transactions which has earned the trust of a broad spectrum of leading global government and corporate investors.
Contacts:
DOUGLAS OPALKA KRISTEN MURPHY
HFF Managing Director HFF Associate Director, Marketing
(512) 532-1900 (713) 852-3500
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