DALLAS, TX – HFF announced today that it has secured $22.7 million in financing for 10000 NCX (top centered photo), a 296,360-square-foot, Class A office building in Dallas, Texas.
Working exclusively on behalf of the borrower, a joint venture between CREA Investments and Five Mile Capital Partners, HFF placed the three-year fixed-rate loan with a one-year extension through GE Capital Real Estate. 10000 NCX is located along the frontage road of North Central Expressway (I-75) between Walnut Hill Lane and Royal Lane in Dallas.
The 15-story property is constructed of granite and glass and includes an 818-space underground parking garage.
The borrower has immediate plans to make significant improvements to the property, which was built in 1986, including restroom renovations, corridor improvements, lobby renovation and the addition of a fitness center.
The HFF team representing the borrower was led by managing director Travis Anderson (middle right photo).
“Given the borrower’s ‘hands-on approach’ to leasing and management in addition to a recovering Dallas office market in which the sector is enjoying robust leasing activity and rental rate growth, this property presents a compelling value-add opportunity,” commented HFF.
Contacts:
TRAVIS ANDERSON
HFF Managing Director
(214) 265-0880
MYRA MOREN
HFF Director, Marketing
(713) 852-3500
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