Saturday, January 24, 2015

HFF closes sale of and arranges financing for three-building suburban office portfolio in north Dallas, TX


5000 Quorum Drive in Dallas, TX and Quorum Place and Quorum North in Addison, TX

DALLAS, TX – HFF announced it has closed the sale of and arranged acquisition financing for a three-building office portfolio totaling 465,703 square feet in suburban north Dallas, Texas.


                HFF marketed the property on behalf of the seller, Harbert Management Corporation.  DRA Advisors LLC purchased the asset for an undisclosed amount free and clear of debt.  

HFF assisted DRA in securing three separate three-year, floating-rate loans through OneWest Bank.

                The portfolio consists of:  5000 Quorum Drive in Dallas and Quorum Place and Quorum North in Addison. 

Situated on 4.5 acres between the Dallas North Tollway and Inwood Road, the 165,434-square-foot 5000 Quorum has seven stories and is 77.2 percent leased. 

At nine stories and 181,737 square feet, Quorum Place is the largest of the three in the portfolio.  The 78.2-percent-leased building is situated on 5.4 acres at 14901 Quorum Drive in Addison north of the 5000 Quorum Drive property. 

Steve Heldenfels
Quorum North, located at 13201 Spectrum Drive in Addison, is situated on 2.8 acres northeast of the other two properties in the portfolio.  At 118,532 square feet, the five-story, 75.7-percent-leased office building is the smallest in the portfolio.

                HFF’s debt placement team was led by managing directors Colby Mueck, Matt Kafka and Steve Heldenfels and real estate analyst Sarah Baccich.


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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com


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