The HFF team worked on behalf of the borrower, Inland Western REIT to secure the seven-year, 6.25% fixed-rate loan through MetLife Real Estate Investments. The refinancing is replacing maturing CMBS loans and a bank loan.
Southlake Town Square consists of a six phase mixed-use development that was completed within the last 10 years.
The refinancing is for four phases, which total 507,500 square feet out of the total 841,029 square feet of the entire Southlake Town Square shopping center.
The master development contains more than 150 tenants including: Harkin’s Theatre, CitiFinancial, Barnes and Noble, The Container Store, Banana Republic, Gap, Victoria’s Secret, Brooks Brothers, and a variety of other well-known national brands and restaurants.
Southlake Town Square is situated between Texas Highway 114 and Southlake Boulevard close to the Dallas/Fort Worth International Airport in Southlake."The asset is generally regarded as the first and most successful mixed-use town center development in DFW and the State of Texas.
"The asset’s prominence, along with the strong tenant performance and the experience of Inland Western as an owner and manager, made this a very compelling loan opportunity,” said Kevin MacKenzie (lower left photo) , a managing director at HFF involved in the financing.
As of December 31, 2009, the portfolio under management totaled in excess of 46 million square feet, consisting of 299 consolidated operating properties. The company also has interests in 11 unconsolidated operating properties and 11 properties under development. 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
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