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| Galleria Place, Houston, TX |
HOUSTON, TX, Jan. 4, 2016
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged
$60.74 million in post-closing acquisition financing for Galleria Place, two Class A office buildings totaling 401,000
square feet plus a stand-alone retail site across from the Galleria Mall in
Houston, Texas.
Working on behalf of the
borrower, LPC Realty Advisors I, LP, an affiliate of Lincoln Property Company,
on behalf of a pension fund client,
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| Susan Hill |
HFF placed the three-year, floating-rate,
interest-only loan with ACORE Capital.
HFF also arranged the sale of the property earlier in 2015.
Galleria Place consists of
Galleria Place I (5251 Westheimer), an 11-story, 217,006-square-foot office
building; Galleria Place II (5333 Westheimer), a 10-story, 178,468-square-foot
office building; Sage Plaza, a 5,797-square-foot retail building fully leased to
a local high-end salon and tailor; Regions Bank, a single-story bank branch and
drive-thru connected to Galleria Place I and included in its square footage;
and two parking garages with 1,361 spaces.
Galleria Place is 53 percent leased to
tenants including Just Energy and IHS.
The properties occupy six acres bounded by Sage and Westheimer Roads and
West Alabama Street directly across from the Houston Galleria, Houston’s
premier destination for shopping and dining.
HFF’s debt placement team
representing the borrower was led by senior managing director Susan Hill.
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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