Wednesday, March 20, 2013

HFF closes sale and arranges $14.5 million acquisition financing for Class A office building in Dallas, TX



2626 Cole, Dallas, TX
DALLAS, TX – HFF announced today that it has closed the sale of  2626 Cole, a 120,599-square-foot, Class A office building in Dallas’ Uptown/Turtle Creek submarket on behalf of an institutional advisor for an undisclosed amount. 

HFF also worked on behalf of the buyer, Beacon Investment Properties, to arrange a $14.5 million acquisition loan through Morgan Stanley Mortgage Capital, Inc. 
                 2626 Cole is situated on 1.44 acres along Cole Avenue in Uptown Dallas, east of Cedar Springs Road immediately north of downtown.  The nine-story, Class A property is 96 percent leased to tenants such as Leadership Network, Neopolitan, TPF Gas and Red Car.  


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 six million square feet under management and has sponsored five close-end investment funds, as well as separate accounts with life insurance companies.  www.beaconri.com.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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