HOUSTON, TX – HFF announced it has closed the sale of and arranged financing for a three-building office portfolio totaling 566,308 square feet in Houston’s Energy Corridor.
HFF marketed the property on behalf of Falcon Southwest and CarVal Investors.
Beacon Investment Properties, LLC purchased the property free and clear of debt. Fixed-rate financing for the acquisition was arranged by HFF through JP Morgan Chase Bank, N.A.
The portfolio consists of three “best of class” Class B, multi-tenant office buildings located in Houston’s Energy Corridor at the intersection of Interstate 10 and Dairy Ashford Road across from the world headquarters of ConocoPhillips and Shell Oil North American Exploration & Production Group. Most recently renovated in 2007, the three eight-story office buildings are 93.6 percent leased overall.
The HFF investment sales team representing the seller was led by senior managing directors Robert Williamson (middle right photo) and H. Dan Miller (middle left photo).
HFF’s debt placement team representing Beacon Investment Properties, LLC was led by senior managing director Susan Hill (bottom right photo).
Beacon Investment Properties, LLC is a real estate investment manager and operator concentrating primarily on core-plus and value-add office properties in large MSAs in Texas and the eastern seaboard of the United States.
Beacon has more than five million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies. .
For a complete copy of the company’s news release, please contact:.
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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