Saturday, February 20, 2016

HFF secures $18 million financing for historic downtown Dallas, TX office building

211 N. Ervay office building downtown Dallas TX

De'On Collins
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $18 million in first lien financing for 211 N. Ervay, a 197,000-square-foot, historic office building with ground-floor retail in downtown Dallas, Texas.

Working on behalf of the borrower, Alterra International, HFF placed the five-year, floating-rate loan with Ready Capital Structured Finance.  Loan proceeds will be used to fund future tenant improvements, leasing commissions and minor remaining capital expenditures on the building.

Originally built in 1958, 211 N. Ervay was completely vacant when Alterra International purchased it in 2012. Upon acquisition, they spent a significant amount of capital to abate, rehab and lease up the property. 

The ground-floor retail is 100 percent leased, anchored by Koleksiyon Furniture, 7-Eleven and Café Izmir.  The office tower is leased to a variety of tenants, including Fort Work, Tech Wildcatters, Traxo and Koios Works.

 Situated at the intersection of N. Ervay and Elm Streets, the building is accessible via Interstates 30 and 35 and Highway 75 in addition to being within walking distance of the St. Paul DART light rail station. 

The HFF debt placement team representing the borrower was led by associate director De’On Collins and managing director Steven Heldenfels.

According to HFF, “the building’s rehabilitation is part of a continuing trend revitalizing downtown Dallas into not only the largest employment center in North Texas with 135,000 employees, but also into a live-work-play destination.”

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

Kristen M. Murphy
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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