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| 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.
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| 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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