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| Grapevine Towne Center, Grapevine, TX |
DALLAS, TX –
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged an $18.32
million refinancing for Grapevine Towne
Center, a 207,004-square-foot retail center in Grapevine, a Dallas-Fort
Worth-area suburb.
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| Steve Heldenfels |
Working on
behalf of the borrower, a joint venture managed by Cencor Realty Service, HFF
placed the 10-year, fixed-rate loan with Morgan Stanley Bank. HFF will service the securitized loan. Loan proceeds will be used to refinance the
borrower’s existing debt.
Grapevine
Towne Center is located along State Highway 114 between William D. Tate and Ira
E. Woods Avenues (State Highway 26) in the Mid-Cities retail submarket, the
second largest retail hub within the DFW area.
Grapevine Towne Center’s main building and five outparcel pads are 87.5
percent leased.
Shadow-anchored by Target, the property
maintains a national tenant lineup that includes Office Depot, Ross Dress for
Less and Big Lots in addition to Vision Works, Weight Watchers, Hallmark
Creations and Bealls.
The HFF team
representing the borrower was led by managing director Steve Heldenfels, senior managing director Travis Anderson and real estate analyst Joe Lerer.
Cencor
Realty Service (Cencor) offers statewide property management, asset management
and development operations. Cencor
currently manages a retail property portfolio of more than 22 million square
feet.
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
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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