Thursday, September 6, 2012

HFF closes sale of and arranges financing for three-building office portfolio in Houston’s Energy Corridor

HOUSTON, TX – HFF announced it has closed the sale of and arranged financing for a three-building office portfolio totaling 566,308 square feet in Houston’s Energy Corridor.

                HFF marketed the property on behalf of Falcon Southwest and CarVal Investors. 

Beacon Investment Properties, LLC purchased the property free and clear of debt.  Fixed-rate financing for the acquisition was arranged by HFF through JP Morgan Chase Bank, N.A.

The portfolio consists of three “best of class” Class B, multi-tenant office buildings located in Houston’s Energy Corridor at the intersection of Interstate 10 and Dairy Ashford Road across from the world headquarters of ConocoPhillips and Shell Oil North American Exploration & Production Group.  Most recently renovated in 2007, the three eight-story office buildings are 93.6 percent leased overall. 

                The HFF investment sales team representing the seller was led by senior managing directors Robert Williamson (middle right photo) and H. Dan Miller (middle left photo). 

HFF’s debt placement team representing Beacon Investment Properties, LLC was led by senior managing director Susan Hill (bottom right photo).
                Beacon Investment Properties, LLC is a real estate investment manager and operator concentrating primarily on core-plus and value-add office properties in large MSAs in Texas and the eastern seaboard of the United States.  

Beacon has more than five million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies.  .

For a complete copy of the company’s news release, please contact:.

HFF Associate Director, Marketing
(713) 852-3500                                   

HFF arranges joint venture equity and refinancing for Austin, TX industrial portfolio

DALLAS, TX – HFF announced  it has arranged a joint venture between Live Oak-Gottesman, LLC and KFG Investment Company for a 204,000-square-foot industrial portfolio in Austin, Texas. 

 In addition, HFF secured refinancing for one of the buildings in the portfolio.

HFF worked exclusively on behalf of Live Oak-Gottesman, LLC and KFG Investment Company to secure the joint venture financing through Principal Real Estate Investors.

The properties are located near the intersection of Interstate 35 and West Howard Lane within Tech Ridge, a 1,000-acre multi-use business park in Austin. 

The portfolio consists of three, Class A industrial buildings that are 94 percent leased to six tenants including NCS Pearson, Inc., Ultra Clean Technology, Dynamic Manufacturing, Anixter, Inc. and Finisar Corporation. 

The HFF equity placement team representing Live Oak-Gottesman Company included senior managing director Randy Baird (middle right photo), managing director Jud Clements (middle left photo) and director Robby Rieke. 

Senior managing director Mona Carlton (lower right photo) represented the borrower in the debt placement portion of the transaction.

For almost 40 years, the principals and professionals who merged to form Live Oak-Gottesman, LLC have represented a leading force in Central Texas commercial real estate.  

Live Oak-Gottesman is the product of a strategic merger of three respected organizations:  Live Oak Group, The Gottesman Company and the leasing and property management divisions of Trammell Crow Company. 

Formed in early 2007, Live Oak-Gottesman, LLC is a vertically integrated, full-service commercial real estate firm with diverse holdings and operations spanning the industrial, office, retail and land development sectors of the Central Texas market.

For a complete copy of the company’s news release, please contact:.

HFF Associate Director, Marketing
(713) 852-3500                                    

HFF closes $121.4 million leasehold sale of Carroll Square in Washington, D.C.


 WASHINGTON, D.C. – HFF announced it has closed the leasehold sale of Carroll Square (top left photo), a 178,000-square-foot, Class A office property in the East End submarket of Washington, D.C.
 HFF marketed the property exclusively on behalf of the seller, Seaton Benkowski & Partners.  GLL Partners purchased Carroll Square for $121.4 million and assumed an existing loan on the property.

Carroll Square is a 10-story building comprised of both new construction and seven late 19th century commercial townhomes. 

Its unique features include a small public art gallery, three rooftop terraces and a “pocket park” located between the office building and St. Patrick’s Catholic Church to the north.

The property is encumbered by a ground lease with the Archdiocese of Washington, D.C. through 2102 and is fully leased to tenants including the law firms of Seyfarth Shaw, Holland & Hart, and Fitzpatrick, Cella, Harper & Scinto.  Retail tenants include Le Pain Quotidien, Leica Camera and Coco Sala. 

Located at 975 F Street, NW, Carroll Square is close to Gallery Place, the Verizon Center and the New Convention Center, and is within walking distance of five different Metro lines.

The HFF team representing the seller was led by executive managing director Stephen Conley (middle right photo) and senior managing directors Jim Meisel (lower left photo), Dek Potts and Andrew Weir.  Additional support was provided by real estate analysts Matt Nicholson and Jessica Dickinson.

For a complete copy of the company’s news release, please contact:.

HFF Associate Director, Marketing
(713) 852-3500