Tuesday, December 17, 2013

HFF closes sale of Preston Center Pavilion and Square in Dallas, TX


Rendering of Preston Center Pavilion and Square,
Park Cities Neighborhood, Dallas, TX
Barry Brown
DALLAS, TX – HFF announced today that it has closed the sale of Preston Center Pavilion and Square, a 230,842-square-foot urban infill shopping center in Dallas, Texas.

                HFF represented the seller, US Commercial, LLC (“USC”), on behalf of 35 tenant-in-common owners and procured the buyer, a private real estate fund advised by Crow Holdings Capital Partners, L.L.C.  The transaction involved the assumption of the existing CMBS mortgage. 

Jim Batjer
Redeveloped in 2000, Preston Center Pavilion and Square is anchored by national tenants including DSW Shoe Warehouse, Marshalls, Gold’s Gym, CVS Pharmacy, Office Depot, Pei Wei, Chipotle and Salata. 

The property is situated in Dallas’ affluent Park Cities neighborhood at the intersection of Northwest Highway, Preston Road and the Dallas North Tollway.

The HFF investment sales team representing the seller was led by senior managing directors Barry Brown, Jim Batjer and Doug Hazelbaker and managing director Ryan Shore.

Doug Hazelbaker
US Commercial, LLC is a full-service real estate advisory firm based in Ladera Ranch, California that has sponsored numerous tenant-in-common real estate investment programs.   

Crow Holdings Capital Partners, L.L.C. (“CHCP”) is the investment manager to a series of real estate private equity funds designed to generate current income and benefit from the capital appreciation of portfolio investments. 

Ryan Shore
The six funds have had total equity commitments from partners of approximately $4.1 billion, approximately $675 million of which was committed by Crow Family Holdings.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-338-1572 | cel 617.543.4873 | www.hfflp.com

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