DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of and arranged debt and equity for Barton Oaks II and III, two five-story Class A office buildings totaling 238,594 square feet in Austin, Texas.The HFF investment sales team marketed the property on behalf of the seller, Prudential Real Estate Investors.
HPI Real Estate Services & Investments (“HPI”) purchased Barton Oaks II and III for an undisclosed amount. HFF also represented PREI® on the sale of Barton Oaks V in October 2008.
HFF’s debt placement team exclusively represented HPI in securing the fixed-rate loan through ViewPoint Bank as well as joint venture equity from Sarofim Realty Advisors.
Barton Oaks II and III are located at 901 South MoPac Expressway at the intersection of Bee Caves Road close to downtown Austin and the residential neighborhoods of Lake Austin. Barton Oaks II has 117,127 square feet that is 90% occupied and Barton Oaks III has 121,467 square feet of fully leased space. Notable tenants include The Broussard Group, Arbor E&T, Parsons Brinckerhoff, LifeSize Communications, Fiserv and IKON Office Solutions.
Contacts:
Andrew Levy, HFF Senior Managing Director, (214) 265-0880, alevy@hfflp.com
Mark E. West, (214) 265-0880, HFF Managing Director, mwest@hfflp.com
Mark E. West, (214) 265-0880, HFF Managing Director, mwest@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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