Sunday, October 30, 2016

HFF arranges $32.4 million acquisition financing for Birmingham, AL, Class A office building


Ed Coco

ATLANTA, GA  -– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $32.4 million in financing for Brookwood Office Center, a 169,459-sqare-foot, nine-story office building in Birmingham, Alabama.

HFF worked on behalf of the borrower, an indirect subsidiary of Preferred Apartment Communities, Inc., to secure the 15-year acquisition loan through Sentinel Asset Management.  The 3.52 percent, fixed-rate financing will also be serviced by HFF.
   
Completed in 2007, the LEED Silver-certified Brookwood Office Center is fully leased to a mix of national and international corporations, including Kinder Morgan, Merrill Lynch and PriceWaterHouseCoopers.  Jos. A. Bank and O’Henry’s Coffee occupy the ground-floor retail space and tenants have access to a four-story, 896-space parking structure.

 The property is situated on 5.08 acres at 569 Brookwood Village within the Brookwood Village upscale mixed-use shopping development.  

This location is immediately off of Highway 280 in the Mountain Brook/Midtown submarket of Birmingham, an affluent area boasting an average household income within three miles of more than $97,000, an average home value of more than $371,000 and a population base in which more than 62 percent of residents hold a bachelor’s degree or higher.

 The Birmingham market is the largest office market between Georgia and Texas and comprises over 58 million square feet of office space.

The HFF debt placement team representing the borrower was led by senior managing director Ed Coco and senior real estate analyst Matt Casey.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


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