DALLAS, TX – HFF announced today that it has secured a $19.5 million refinancing for McAllister Plaza (top left photo), a 12-story, 190,079-square-foot, Class A office property in San Antonio, Texas.Working on behalf of RBL Real Estate, HFF placed the three-year adjustable-rate bridge loan with a life insurance company. Loan proceeds are recapitalizing the existing debt on the property and paying for tenant improvement and leasing commission costs related to backfilling space vacated by one of the building’s primary tenants.
McAllister Plaza has an exceptional location directly across Highway 281 from the San Antonio International Airport at the northwest quadrant of Loop 410. RBL purchased the property in 2007 and has performed an extensive renovation to allow the property to compete with Class A properties in the market.
The HFF team representing RBL Real Estate was led by associate director Adam Herrin (lower right photo) and senior managing director Trey Morsbach.
According to HFF, the lender did a fantastic job on a transaction that had some complexities to it. Their execution from beginning to end was great. This financing should assist RBL to invest the necessary capital to reposition this asset and make it a huge success.
Headquartered in San Francisco, RBL Real Estate specializes in the acquisition, development and management of commercial real estate. Since its inception, RBL has acquired and managed more than 40 properties with an aggregate value in excess of $500 million.
Contacts:
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
No comments:
Post a Comment