Monday, January 4, 2016

HFF arranges $60.74 million acquisition financing for Galleria Place in Houston, TX

Galleria Place, Houston, TX

HOUSTON, TX, Jan. 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $60.74 million in post-closing acquisition financing for Galleria Place, two Class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston, Texas.

Working on behalf of the borrower, LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company, on behalf of a pension fund client,
Susan Hill

 HFF placed the three-year, floating-rate, interest-only loan with ACORE Capital.  HFF also arranged the sale of the property earlier in 2015.

Galleria Place consists of Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces.

  Galleria Place is 53 percent leased to tenants including Just Energy and IHS.  The properties occupy six acres bounded by Sage and Westheimer Roads and West Alabama Street directly across from the Houston Galleria, Houston’s premier destination for shopping and dining. 

HFF’s debt placement team representing the borrower was led by senior managing director Susan Hill.

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 |

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