Saturday, June 6, 2015

HFF arranges $18.32 million refinancing for Dallas-Fort Worth-area retail center



Grapevine Towne Center, Grapevine, TX

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an $18.32 million refinancing for Grapevine Towne Center, a 207,004-square-foot retail center in Grapevine, a Dallas-Fort Worth-area suburb.

Steve Heldenfels
Working on behalf of the borrower, a joint venture managed by Cencor Realty Service, HFF placed the 10-year, fixed-rate loan with Morgan Stanley Bank.  HFF will service the securitized loan.  Loan proceeds will be used to refinance the borrower’s existing debt.

Grapevine Towne Center is located along State Highway 114 between William D. Tate and Ira E. Woods Avenues (State Highway 26) in the Mid-Cities retail submarket, the second largest retail hub within the DFW area.  Grapevine Towne Center’s main building and five outparcel pads are 87.5 percent leased.

 Shadow-anchored by Target, the property maintains a national tenant lineup that includes Office Depot, Ross Dress for Less and Big Lots in addition to Vision Works, Weight Watchers, Hallmark Creations and Bealls. 

The HFF team representing the borrower was led by managing director Steve Heldenfels, senior managing director Travis Anderson and real estate analyst Joe Lerer.

Cencor Realty Service (Cencor) offers statewide property management, asset management and development operations.  Cencor currently manages a retail property portfolio of more than 22 million square feet.

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
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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