HFF arranges $22.6M refinancing for Lincoln Park in Dallas

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has arranged a $22.6 million refinancing for Lincoln Park, (top left photo)  a 148,806-square-foot, grocery-anchored retail center in Dallas, Texas.

HFF managing director Kevin MacKenzie (middle right photo) and senior managing director Trey Morsbach (bottom left photo) worked exclusively on behalf of a joint venture between a client of Invesco Real Estate and Inland Western REIT to secure the five-year, fixed-rate loan.

 The loan is replacing debt that was maturing in November 2009.

Lincoln Park is located at the southwest corner of West Northwest Highway and North Central Expressway across from the NorthPark Mall in north Dallas. Completed in 1998, the property is 98% leased to tenants including Tom Thumb, The Cheesecake Factory, Container Store and Barnes & Noble.

“The loan request attracted a wide variety of interest from lenders providing aggressive financing proposals due to the strength of the tenant line-up, the location, the sales performance, and the class A sponsorship,” said MacKenzie. “The property continues to have strong occupancy levels and benefits from its proximity to NorthPark Mall and the affluent neighborhoods of Highland Park and University Park.”

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States. As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties. Inland also has interest in 12 unconsolidated operating properties and 17 properties in seven development joint ventures. For further information, please see the company website at www.inlandwestern.com.

Contacts:

Kevin C. Mackenzie, HFF Managing Director, (214) 265-0880, kmackenzie@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com