Sunday, October 19, 2014

HFF secures $18.75 million in financing for six-property industrial portfolio in Dallas-Ft. Worth, TX

Tucker Knight
HOUSTON, TX – HFF announced it has arranged $18.75 million in acquisition financing for a six-property, 16-building industrial portfolio totaling 462,618 square feet in the north Dallas-Ft. Worth area.

                HFF worked exclusively on behalf of the borrower, Red Tail Acquisitions, to secure the 10-year, fixed-rate loan through a correspondent life insurance company.

 Loan proceeds were used to purchase the portfolio for an undisclosed amount.  HFF’s Dallas-based brokerage group also represented the seller in the sale.

The portfolio consists of 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, Texas and 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrolton, Texas. 

Located in infill, established industrial submarkets, the properties are all near major transportation arteries, including Interstates 35 and 635 and Highway 75.  The properties are 87 percent leased overall to 41 tenants, including NOW Specialties, Inc.; Optex Systems, Inc.; Laboratory Corporations of America; SKH Beauty, Inc.; All Sorts Mailing Services; Circuitco Electronics LLC; Advanced Environmental Concepts; Select Cabinet Co.; Milestone Construction; TraStar, Inc.; and Gym Ratz Basketball Club, LLC.

Lighting Industrial, Dallas, TX
The HFF debt placement team representing the borrower was led by managing director Tucker Knight.

“The DFW industrial submarket is one of the most established industrial submarkets in Texas,” Knight said.  “The properties in this portfolio are well-located, quality assets, and I expect them to see an upward trend in leasing.” 

Red Tail Acquisitions (RTA) is a value and core-plus investor that seeks office, industrial and retail properties.  Over the last 25 years, the group has purchased more than 10 million square feet of commercial property in the western United States. 

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 |

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