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| The Meridian office building 1425 Greenway Drive, Irving, TX |
DALLAS, TX – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
acquisition financing for The Meridian
and The Belvedere, two Class A office buildings totaling 241,539 square
feet in Addison and Irving, Texas.
HFF marketed the
properties on behalf of the seller, Klabzuba Realty. CREA Investments purchased the two buildings
for an undisclosed amount free and clear of debt.
Additionally, HFF secured floating-rate
acquisition financing on behalf of the new owner through a regional bank.
The Meridian is located at
1425 Greenway Drive in the Las
Colinas master-planned business and residential community immediately adjacent
to DFW International Airport in Irving.
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| The Belvedere office building, 14881 Quorum Drive, Addison, TX |
The six-story property is 90 percent leased and features 100,359 square
feet of space.
Situated at 14881 Quorum Drive in Addison, The
Belvedere is located in the Far North Dallas market along the Dallas North
Tollway, offering access to all of the city’s commercial centers including DFW
International Airport, Love Field, Legacy Business Park and Preston
Center.
The 141,180-square-foot,
nine-story building is 79.8 percent leased.
“These transactions
represent successful round trips that generated attractive returns to our
investors,” said Klabzuba Executive Vice President Clint Corn. “We remain
committed to proactively recycling our capital into urban infill opportunities
in major Texas markets.”
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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