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| Tucker Knight |
HOUSTON, TX – HFF announced it has arranged $18.75 million
in acquisition financing for a six-property, 16-building industrial portfolio
totaling 462,618 square feet in the north Dallas-Ft. Worth area.
HFF
worked exclusively on behalf of the borrower, Red Tail Acquisitions, to secure
the 10-year, fixed-rate loan through a correspondent life insurance company.
Loan proceeds were used
to purchase the portfolio for an undisclosed amount. HFF’s Dallas-based brokerage group also represented the seller in
the sale.
The portfolio consists of 1360-1420 Presidential Drive and
850-890 North Dorothy Drive in Richardson, Texas and 1420 Halsey Way, 1406
Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrolton,
Texas.
Located in infill, established industrial submarkets, the
properties are all near major transportation arteries, including Interstates 35
and 635 and Highway 75. The properties
are 87 percent leased overall to 41 tenants, including NOW Specialties, Inc.;
Optex Systems, Inc.; Laboratory Corporations of America; SKH Beauty, Inc.; All
Sorts Mailing Services; Circuitco Electronics LLC; Advanced Environmental Concepts;
Select Cabinet Co.; Milestone Construction; TraStar, Inc.; and Gym Ratz
Basketball Club, LLC.
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| Lighting Industrial, Dallas, TX |
The HFF debt placement team representing the borrower was
led by managing director Tucker Knight.
“The DFW industrial submarket is one of the most established
industrial submarkets in Texas,” Knight said.
“The properties in this portfolio are well-located, quality assets, and
I expect them to see an upward trend in leasing.”
Red Tail Acquisitions (RTA) is a value and core-plus
investor that seeks office, industrial and retail properties. Over the last 25 years, the group has
purchased more than 10 million square feet of commercial property in the
western United States.
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) 617-848-1572 | cel
617.543.4873 | www.hfflp.com
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