HFF closes sale of Carrier-leased industrial facility in Dallas, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 2000 Luna Road, an 184,317-square-foot industrial facility (top left photo)  fully leased to Carrier Corporation in Dallas, Texas.

HFF managing director Jud Clements (middle right photo)  and director Robby Rieke (bottom left photo) marketed the property exclusively on behalf of the seller, Langford Property Company.

Monmouth Real Estate Investment Corp. purchased the property free and clear of debt.

Completed in 2009, the property functions as Carrier Corporation’s regional distribution building in North Texas and is leased to Carrier for 10 years under a net lease structure. 2000 Luna Road is situated on 10 acres within the Valwood Industrial Park, near the intersection of President George Bush Turnpike, Interstate 35E and LBJ Freeway.

“Valwood is a favored location for HVAC companies like Carrier, primarily due to its central location and the transportation arteries that provide convenient access to all parts of the city,” said Clements.

Langford Property Company develops build-to-suit and speculative real estate investments primarily in Texas.

Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA), which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties.

The Company's portfolio now consists of sixty-one industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.

Contacts:

Judson Clements, HFF Managing Director, (214) 265-0880, jclements@hfflp.com
Robby Rieke, HFF Director, (214) 265-0880, rrieke@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $9.9M financing with Freddie Mac for Lubbock, TX multi-housing community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $9.9 million financing through Freddie Mac (Federal Home Loan Mortgage Corporation) for the refinance of Sagewood Apartments, (bottom left photo) a 355-unit multi-housing community in Lubbock, Texas.

HFF senior managing director Mona Carlton (top right photo)  worked on behalf of McDougal Companies to secure the 10-year, 5.79% fixed-rate securitized loan. HFF will service the loan through their Freddie Mac Program Plus® Seller/Servicer program.

Located at 5917 67th Street, Sagewood Apartments is close to the Brownfield Highway and Loop 289 Interchange in Lubbock. The property was built in two phases in 1998 and 1984, and is 90% occupied.

During the past 27 years, McDougal Companies has grown into four separate divisions including McDougal Properties, McDougal Realtors, McDougal Land Company and McDougal Construction.

Contacts:

Mona K. Carlton, HFF Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Sale of far North Dallas multi-housing complex closed by HFF

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of Preston Bend, (centered photo below) a 255-unit multi-housing complex in far North Dallas, Texas.

The HFF investment sales team was led by senior managing directors Bill Miller and managing director Roberto Casas, who exclusively represented the seller, Equity Residential. Richard Hoffmann, president of Anterra Realty Corp,, assisted a private investor from California, who purchased the property for an undisclosed price.

Situated on a nine-acre site at 18790 Lloyd Drive, Preston Bend has immediate access to President George Bush Turnpike in far North Dallas and is close to the Dallas North Tollway, North Central Expressway, Interstate 35 and LBJ Freeway. The 96% leased property has one- and two-bedroom units averaging 726 square feet each. Community amenities include a tennis court, sport court, fitness facility, car care center, playground and swimming pool.

“Preston Bend has a fantastic location within the recognized Plano Independent School District close to the Baylor Regional Medical Center of Plano (above centered photo) and Legacy Business Park,(centered photo below)  which is home to major employers such as EDS, FritoLay, JCPenney and Cadbury Schweppes,” said Miller.

“The stabilized asset is a solid B property, in a good location, which helped drive investor interest. The buyer has a great reputation and transaction history, which helped facilitate a smooth transaction,” added Casas.

Equity Residential is an S&P 500 company focused on the acquisition, development and management of high quality apartment properties in top U.S. growth markets. Equity Residential owns or has investments in 494 properties totaling 136,843 units in 23 states and the District of Columbia. www.equityresidential.com.

Anterra provides multi-family services to individuals and financial institutions in the areas of property and construction management, brokerage, due diligence and loan underwriting. Based in Dallas, Anterra currently manages over 5,000 units of apartments ranging from Class A to D properties in all the major cities in Texas. www.anterra.com

Contacts:

Bill Miller, HFF Senior Managing Director, (214) 265-0880, bmiller@hfflp.com
Roberto Casas, HFF Managing Director, (214) 265-0880, rcasas@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Class A mixed-use development in Dallas, TX

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has closed the sale of Broadstone Parkway, (bottom left photo) a 331,473-square-foot, Class A mixed-use property in Dallas, Texas.

HFF managing director Roberto Casas (top left photo)  and senior managing director Bill Miller (middle right photo)  led the investment sales team exclusively on behalf of the seller, Bank of America. USAA Real Estate Company purchased the bank-owned property for an undisclosed price.

Completed in 2008, Broadstone Parkway has 333 residential units plus 40,070 square feet of retail space.

The residential units are 93.4% leased and are available in 10 different layouts averaging 875 square feet each.

Residents have access to community amenities including a fitness center, resort-style pool, movie lounge, internet café, outdoor grills and on-site garage parking.

The retail component is 42.4% leased. Broadstone Parkway is situated on a 7.4-acre site at 5005 Galleria Drive, adjacent to the LBJ Freeway and The Tollway interchange across from the Galleria Dallas.

“Due to the quality of the asset and location, Broadstone Parkway received a tremendous amount of interest during the marketing period. This is one of the first Class A bank-owned multi-housing deals of significance to hit the market which helped fuel investor interest,” said Casas.

USAA Real Estate Company, with over $5 billion of assets, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.

 In addition, the company provides investment vehicles for domestic and foreign investors. The USAA portfolio consists of office, industrial, retail and hotel properties with annual volume transactions exceeding $3 billion.

USAA Real Estate Company is a subsidiary of USAA, which has served military families since 1922 and has become one of America’s leading financial services companies.

For more information about USAA Real Estate Company, visit http://www.usrealco.com/.


Contacts:

Bill Miller, HFF Senior Managing Director, (214) 265-0880bmiller@hfflp.com
Roberto Casas, HFF Managing Director, (214) 265-0880 rcasas@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500krmurphy@hfflp.com

HFF closes sale of Santa Fe, NM mall

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of DeVargas Center, (centered photo below) a 249,671-square-foot mall in Santa Fe, New Mexico.

HFF senior managing directors Doug Hazelbaker, Jim Batjer (middle  right photo) and Chris Turner and managing director Ryan Shore led the investment sales team exclusively on behalf of the seller, Weingarten Realty Investors. Fidelis Realty Partners, Ltd. purchased the property for an undisclosed price.

DeVargas Center is located along Highway 84/St. Francis Street, less than one mile northwest of downtown Santa Fe as well as the Santa Fe Plaza. The property is 95% leased to tenants including Sunflower Farmers Market, Office Depot, Ross Dress for Less, Hastings and CVS Pharmacy.

“DeVargas Center’s exceptional location, annual tourist population and affluent trade area provide the foundation for strong tenant performance resulting in sustained long-term value appreciation,” said Hazelbaker.

As one of the largest real estate investment trusts listed on the New York Stock Exchange, Weingarten Realty (NYSE:WRI) is celebrating its 60th anniversary as a commercial real estate owner, manager and developer, formed in 1948.

 Focused on delivering solid returns to shareholders, Weingarten is actively developing, acquiring, and intensively managing properties in 23 states that span the United States from coast-to-coast. To learn more about the company’s operations and growth strategies, please visit www.weingarten.com.

Contacts:
Doug Hazelbaker, HFF Senior Managing Directo, r (214) 265-0880,  dhazelbaker@hfflp.com
Jim Batjer, HFF Senior Managing Director, (214) 265-0880, jbatjer@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing , (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Albuquerque, NM retail power center

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of The Plaza at Cottonwood,  (top left photo) an 84,322-square-foot retail power center in Albuquerque, New Mexico.

The HFF investment sales team was led by senior managing directors Doug Hazelbaker and Jim Batjer (middle right photo)  and managing director Ryan Shore, who marketed the property exclusively on behalf of the seller, Weingarten Realty Investors.

North American Development Group purchased The Plaza at Cottonwood for an undisclosed price. HFF also represented Weingarten in the November 2009 sale of DeVargas Center and Wolflin Village, two retail properties in Santa Fe, New Mexico and Amarillo, Texas.

The Plaza at Cottonwood is located across from the Cottonwood Mall (bottom left photo)  along Coors Boulevard Bypass and Seven Bar Loop Road in the “West Mesa” area of Albuquerque. Completed in 1999, the property is fully occupied by tenants including Staples, PetSmart, Party City, Avenue and Men’s Warehouse.

“The Plaza at Cottonwood was well-received by the investment community and specifically addressed the investment strategy of the buyer. North American Development Group has a high-quality team that reacted quickly and performed well,” said Hazelbaker.

North American Development Group is one of North America’s leading vertically integrated enterprises focusing exclusively in the shopping center segment of the real estate industry.

Presently, NADG is acquiring both large format and neighborhood community retail centers throughout select U.S. markets. In the United States, NADG has offices in Palm Beach Gardens, Nashville, Dallas, Denver, Scottsdale (Phoenix) and Newport Beach (California). In Canada, offices are located in Toronto, Edmonton, Montreal and Halifax. www.nadg.com.

To learn more about the company’s operations and growth strategies, please visit http://www.weingarten.com/.

Contacts:
Doug Hazelbaker, HFF Senior Managing Director,  (214) 265-0880, dhazelbaker@hfflp.com
 Jim Batjer, HFF Senior Managing Directo, r (214) 265-0880,  jbatjer@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Woodlake Crossing in San Antonio, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Woodlake Crossing,  (bottom right photo)a newly constructed, 160,000-square-foot shopping center in San Antonio, Texas.

The HFF investment sales team was led by senior managing director Doug Hazelbaker (top right photo)  and managing director Ryan Shore  (middle left photo) who represented the seller, David Berndt Interest LTD. Inland American, an entity of The Inland Real Estate Group of Companies, purchased the property for an undisclosed price.

Construction on Woodlake Crossing was initiated in January 2008 and completed in 2009. At the time of closing, the property was in the final phases of leasing and is currently 81% occupied. Anchor tenants include Best Buy, Ross Dress for Less, Office Max and Petco. The property is shadowed-anchored by a separately-owned Target, and is situated at the southwest corner of FM 78 and Woodlake Parkway in northeast San Antonio.

“This transaction was very unique as the property is in its final phase of lease-up and the acquisition involved a new loan with BBVA Compass – who also happened to be the construction lender. The buyer, seller and lender all worked very hard to achieve this year-end closing,” said Hazelbaker.

David Berndt Interest LTD, founded in 1998, is headquartered in Irving, Texas. In the year 2000, the company became a preferred developer for Target Corporation in Central Texas and has developed in excess of five million square feet of shopping centers since the company’s inception.

Inland American Real Estate Trust, Inc. focuses on acquiring and developing a diversified portfolio of commercial real estate including retail, multi-family, industrial, lodging, office and student housing properties, located in the United States and Canada.

The company also invests in joint ventures, development projects, real estate loans and marketable securities, and selectively acquires REITs and other real estate operating companies.

 As of September 30, 2009, Inland American owned, directly or indirectly through joint ventures in which it has a controlling interest, 946 properties, representing approximately 43 million square feet of retail, industrial and office properties, 8,544 multi-family units and 15,125 lodging rooms.

 Inland American is one of five REITs that are, or have been, sponsored by affiliates of The Inland Real Estate Group of Companies, Inc. For further information regarding Inland American, please refer to the company website at www.inland-american.com.

Contacts:

Doug Hazelbaker, HFF Senior Managing Director, (214) 265-0880, dhazelbaker@hfflp.com
Ryan Shore, HFF Managing Director, (214) 265-0880, rshore@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

$65M refinancing for 1700 Pacific in downtown Dallas arranged by HFF

 DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has arranged a $65 million refinancing for 1700 Pacific, (top right photo)  a 49-story, Class A office tower in downtown Dallas, Texas.

Working exclusively on behalf of Berkeley Investments, HFF managing director Steve Heldenfels and senior managing director Whitaker Johnson  (bottom  left  photo) placed the five-year, fixed-rate loan with ING Investment Management.

 HFF is the correspondent for ING. Berkeley Investments is owned by Jon Hamilton and the Hamilton family.

1700 Pacific has 1,340,481 square feet of office space and some of the larger tenants include Akin Gump Strauss Hauer and Penson Worldwide.

The recently renovated property’s amenities include Starbucks, Camille’s, Subway, Café Solace, Elevation Fitness Club, a concierge, a dry cleaner and a three-level 297-space underground parking garage.

The property is also attached via a sky bridge to the Elm Street Garage, which has 1,439 spaces. Located between Elm and Pacific Streets, 1700 Pacific is close to Thanksgiving Square in Dallas’ central business district.

“1700 Pacific is a world-class, trophy office tower in Dallas’ central business district that has earned a reputation as the market leader for small tenant leases,” said Heldenfels.

Contacts:

Steve Heldenfels, HFF Managing Director, (214) 265-0880, sheldenfels@hfflp.com

Whitaker Johnson, HFF Senior Managing Director, (214) 265-0880, wjohnson@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF arranges $22.6M refinancing for Lincoln Park in Dallas

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has arranged a $22.6 million refinancing for Lincoln Park, (top left photo)  a 148,806-square-foot, grocery-anchored retail center in Dallas, Texas.

HFF managing director Kevin MacKenzie (middle right photo) and senior managing director Trey Morsbach (bottom left photo) worked exclusively on behalf of a joint venture between a client of Invesco Real Estate and Inland Western REIT to secure the five-year, fixed-rate loan.

 The loan is replacing debt that was maturing in November 2009.

Lincoln Park is located at the southwest corner of West Northwest Highway and North Central Expressway across from the NorthPark Mall in north Dallas. Completed in 1998, the property is 98% leased to tenants including Tom Thumb, The Cheesecake Factory, Container Store and Barnes & Noble.

“The loan request attracted a wide variety of interest from lenders providing aggressive financing proposals due to the strength of the tenant line-up, the location, the sales performance, and the class A sponsorship,” said MacKenzie. “The property continues to have strong occupancy levels and benefits from its proximity to NorthPark Mall and the affluent neighborhoods of Highland Park and University Park.”

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States. As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties. Inland also has interest in 12 unconsolidated operating properties and 17 properties in seven development joint ventures. For further information, please see the company website at www.inlandwestern.com.

Contacts:

Kevin C. Mackenzie, HFF Managing Director, (214) 265-0880, kmackenzie@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of Amarillo, TX retail center on behalf of Weingarten Realty Investors

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of Wolflin Village, a 159,502-square-foot community retail center in Amarillo, Texas on behalf of the seller, Weingarten Realty Investors.

The HFF investment sales team was led by senior managing directors Doug Hazelbaker (top right photo) and Jim Batjer (top left photo)  and managing director Ryan Shore (bottom right photo).

Dunhill Partners, Inc. purchased the property for an undisclosed amount free and clear of debt.

Wolflin Village is situated on nearly 10 acres at the intersection of Wolflin Avenue and Georgia Street in Amarillo. The property is 92% leased to tenants including Office Depot, Talbots, Starbucks, GNC and Cold Stone Creamery
.

“Wolflin Village benefits from an excellent location along Interstate 40, just west of Highway 287, two of the most highly traveled thoroughfares in Amarillo, allowing accessibility to a regional trade area,” said Hazelbaker.

Weingarten Realty Investors (NYSE: WRI) is a commercial real estate owner, manager and developer.

At June 30, 2009, the company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 378 developed income-producing properties and 24 properties under various stages of construction and development.

The total number of properties includes 318 neighborhood and community shopping centers located in 22 states spanning the country from coast to coast. The company also owns 81 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas. At June 30, 2009, the company’s portfolio of properties was approximately 71.4 million square feet.

Dunhill Partners specializes in commercial real estate sales, leasing and management in Dallas and Fort Worth, Texas. Dunhill Partners currently owns and operates 29 properties totaling more than four million square feet primarily in Dallas/Ft. Worth, Austin, Houston, Louisiana and Hawaii.

Contacts:

T. Douglas Hazelbaker, HFF Senior Managing Director, (214) 265-0880, dhazelbaker@hfflp.com
Jim C. Batjer, HFF Senior Managing Director, (214) 265-0880, jbatjer@hfflp.com
Kristen M. Murphy,HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures $120M recap for W Hotel & Residences in Austin, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $120 million recapitalization for the W Hotel & Residences, (rendering centered below) a luxury mixed-use project under construction in Austin, Texas.

Working on behalf of Stratus Properties, Inc. and the Canyon-Johnson Urban Fund, HFF senior managing director Whitaker Johnson (top right photo)  placed a new five-year construction loan originated by CLG Hedge Fund, LLC, a hedge fund affiliated with Beal Bank Nevada.

This loan is replacing an original $165 million construction financing through Corus Bank that HFF secured on behalf of the borrowers in 2008. As part of the recapitalization, Stratus and Canyon-Johnson are also contributing $45 million to the project.

Due for completion in December 2010, the W Hotel and Residences will have 252 guest rooms and suites. In addition, approximately 159 residential units, in one- to four-bedroom layouts, will be located on floors 18 to 37 and will feature views of Lady Bird Lake, the Hill Country and the city skyline.

 Hotel guests will have access to the W’s signature Living Room experience and Whatever/Whenever, the hotel’s 24-hour concierge service that provides guests with the ultimate in amenities at any hour. On-site amenities will include an elevated garden incorporating a swimming pool and bar, a spa, and approximately 54,000 square feet of retail and office space.

There will also be an entertainment venue operated by Live Nation and a new studio for KLRU-TV’s Austin City Limits show. The W Hotel and Residences is located at 2nd Street and Lavaca in downtown Austin’s 2nd Street District.

“HFF was pleased to line up new construction financing to mitigate any risks associated with the health and stability of the in-place senior construction lender, Corus Bank. Construction never wavered throughout the process and upon completion, the W is going to be an outstanding addition to the downtown Austin area,” said Johnson.

Stratus Properties is a diversified real estate company engaged in the acquisition, development, management and sale of commercial, multifamily and residential real estate properties located primarily in the Austin area.

CLG Hedge Fund, LLC is a hedge fund affiliated with Beal Bank Nevada that focuses on commercial real estate lending. CLG originates loans from $10 million to more than $550 million on all types of collateral, including income properties, raw land, land development and construction, with emphasis on individual pricing based on each asset’s specific characteristics and risk profile.

Beal Bank Nevada is a well-capitalized financial institution with capital in excess of $1.8 billion and assets in excess of $5.5 billion as of June 30, 2009. Beal Bank Nevada is a member of the FDIC.

Contacts:

Whitaker M. Johnson, HFF Senior Managing Director, (214) 265-0880, wjohnson@hfflp.com
Anthony Sassine, CLG Hedge Fund, LLC, (214) 395-8101, ASassine@clghedgefund.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, murphy@hfflp.com

 (Downtown Austin photo bottom right)

HFF closes $14.6M sale of FedEx facility in Memphis, TN

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of the FedEx Supply Chain Services Facility, (above centered photo)  a 450,000-square-foot distribution warehouse in Memphis, Tennessee.

HFF director Jud Clements, (top right photo) executive managing director Jody Thornton (middle left photo) and associate director Robby Rieke (bottom right photo) led the investment sales team exclusively on behalf of the seller, Harbin Group, Ltd.

In addition, Jim Mercer with CB Richard Ellis in Memphis, who originally negotiated the lease with FedEx at the property, also assisted on the sales transaction. Monmouth Real Estate Investment Corporation purchased the property for $14.6 million free and clear of debt.

The FedEx Supply Chain Services Facility is located at 5025 Tuggle Road and is situated at the intersection of U.S. Highway 78 and Tuggle Road, approximately three miles southeast of the Memphis International Airport. Originally built in 1994, the property is fully leased to FedEx for their Supply Chain Services division, a third party logistics provider that stores, secures and distributes critical inventory for its corporate clients.

Monmouth Real Estate Investment Corporation (Nasdaq: MNRTA), which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties. The company's portfolio now consists of 59 industrial properties and one shopping center located in 25 states. In addition, the company owns a portfolio of REIT securities.

Contacts:

Judson Clements, HFF Director, (214) 265-0880,, jclements@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures financing through Aetna Health and Life for Addison, TX office-flex property

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $4.45 million in financing for the purchase of Addison II, a 181,000-square-foot office-flex property in Addison, Texas.

Working exclusively on behalf of Luzzatto Real Estate Value Fund I, LP, HFF associate director Brandon Chavoya (top right photo) placed the five-year, 6.75% fixed-rate loan with Aetna Health and Life Insurance Company.

Luzzatto Real Estate Value Fund I, L.P. is a closed-end fund seeking opportunities to acquire distressed real estate in the southwestern United States with a particular focus on Southern California and Texas.

Situated on 11.2 acres at 4550 Excel Parkway, Addison II is adjacent to Addison Airport and close to the Dallas North Tollway in the Far North Dallas suburb of Addison. The two-story property is 60% leased.

Contacts:

C. Brandon Chavoya, HFF Associate Director, (214) 265-0880, bchavoya@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures financing for San Francisco Bay area multi-housing community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured financing for Enclave at Adobe Creek (formerly known as Lakeville Resort), a 492-unit multi-housing community in Petaluma, California.

Working exclusively on behalf of an affiliate of Abacus Capital Group, LLC, HFF senior managing director Mona Carlton (top right photo) placed the seven-year, fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation).

 The loan will be serviced by HFF and proceeds are being used to acquire the property. The executive team of Abacus Capital Group has over 60 years of combined experience in the multifamily housing industry and has acquired more than $2.5 billion of real estate assets including 23,000 apartment units.

Located at One Lakeville Circle in Petaluma, Enclave at Adobe Creek has convenient access to Redwood Highway and is approximately 33 miles north of San Francisco.

 The 94% leased property has one-, two- and three-bedroom apartment homes averaging approximately 939 square feet each.

Community amenities include five swimming pools, a spa, clubhouse, fitness center, tennis courts, basketball courts, outdoor picnic areas, on-site laundry facilities, children’s playground and reserved parking.

Contacts:

Mona K. Carlton, HFF Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures financing for Houston area shopping center

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured financing for Autumn Creek Village,(top left photo)  a 19,562-square-foot shopping center in Friendswood, Texas.

Working exclusively on behalf of Cencor Realty Services, HFF managing director Mark West (middle right photo)  placed the five-year, fixed-rate permanent loan with ViewPoint Bank. Loan proceeds will refinance existing debt and accommodate for Kroger’s expansion in the center.

Cencor Realty Services was founded in 1989 as a full-service real estate company specializing in property management, construction, renovation and remodeling, development, finish-out and financial services.

Autumn Creek Village is located at 313 FM 538 close to Interstate 45 in Friendswood, approximately 20 miles southeast of Houston. Completed in 2000, the property is 100% leased to tenants including Starbucks, Quiznos Subs, Wells Fargo and Friendswood Eye Center. Autumn Creek Village is shadow-anchored by Kroger Grocery, which is under contract to expand their store by approximately 10,000 square feet.

Contacts:

Mark E. West,HFF Managing Director, (214) 265-0880, mwest@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF secures permanent loan for ground lease near University of South Florida

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a permanent loan for a 16.3-acre ground lease located near the University of South Florida campus in Tampa, Florida.

Working exclusively on behalf of The LCP Group, HFF managing director Mark West (top right photo) placed the 10-year, fixed-rate loan with a national life insurance company. The LCP Group (previously Lepercq Capital Partners), headquartered in White Plains, New York, is a private real estate investment banking firm that has been acquiring, syndicating and overseeing real estate investments nationally since 1974.

The 49-year ground lease commenced in August 2008 and provides for five 10-year automatic extensions.

Contacts:

Mark E. West, HFF Managing Director, (214) 265-0880, mwest@hfflp.com
 Kristen M. Murphy,  HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF places $38.4M loan with Freddie Mac for Littleton, CO multifamily community

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has placed a $38.4 million loan with Freddie Mac for AMLI at Park Meadows, (top right photo) a 518-unit multifamily community in Littleton, Colorado.

HFF senior managing director Mona Carlton (bottom left photo) worked exclusively on behalf of the borrower, AMLI Residential Properties.

Freddie Mac provided the seven-year, adjustable-rate loan, which is refinancing an existing loan.

AMLI at Park Meadows is sitated on a 33.7-acre site at 10200 Park Meadows Drive within walking distance to the Lincoln Light Rail in Littleton, approximately nine miles south of Denver.

The 94% leased property was completed in 2000 and has units averaging 1,029 square feet each. Community amenities include a pool plaza with outdoor spa, fitness center with climbing wall, tennis, volleyball and basketball courts, a putting green and a private movie theatre.

“Given its transit-oriented location and close proximity to popular shopping, dining and Denver’s largest employment area, the Denver Tech Center, the property is expected to maintain its strong rent growth and low vacancy moving forward,” said Carlton.

AMLI Residential Properties Trust, a national firm focused on the development, acquisition and management of luxury apartment communities, currently owns and operates in excess of 23,450 units.

Contacts:

Mona K. Carlton, Senior Managing Director, (214) 265-0880, mcarlton@hfflp.com

Kristen M. Murphy, HFF Associate Director Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF closes sale of 160,000-SF industrial/flex portfolio in Plano, TX

DALLAS, TX, June 9, 2009 – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Research Center,(top left photo) a 160,000-square-foot industrial/flex portfolio in Plano, Texas.

HFF director Jud Clements (bottom right photo) and associate director Robby Rieke led the investment sales team exclusively on behalf of the seller, Bank of America.

The portfolio was purchased for an undisclosed amount free and clear of debt by a Dallas-based private investor, who was represented by Mark V Commercial.

Research Center is situated close to the intersection of the North Central Expressway and the George Bush Turnpike in the northern Dallas suburb of Plano.

The five-property portfolio was completed in 2001 and is leased to tenants including Terminex, NexRev and Eagle Test System. Individual property details are listed below:

601 Development Drive, 45,422 square feet, 3.32 Acres, 29 Percent
608 Development Drive, 23,334 square feet, 2.38 Acres, 70 Percent
600 Development Drive, 23,334 square feet, 2.38 Acres, 100 Percent
2700 Research Drive, 29,688 square feet, 3.05 Acres, 34 Percent
2600 Research Drive 38,200 square feet 4.0 Acres 100 Percent

HFF (NYSE: HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Jud Clements, HFF Director, (214) 265-0880, jclements@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing(713) 852-3500 krmurphy@hfflp.com

HFF arranges sale and financing of The Livingston in Plano, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of and arranged acquisition financing for The Livingston, (top right photo) a 180-unit, Class A multifamily community built by local developer Tonti Properties in Plano, Texas.

The HFF investment sales team was led by managing directors Bill Miller (middle left photo) and Roberto Casas (bottom right photo) who marketed the property on behalf of the seller, Tonti Properties.

Sunstone Realty Advisors purchased The Livingston for an undisclosed amount free and clear of debt.

“The sale of The Livingston went very smoothly and closed in just over 60 days. Sunstone bought a great asset in an excellent location just off Wyndhaven and the North Dallas Tollway.

Tonti Properties’ strategy of holding their assets for the long-term is evident in the quality of the assets they develop,” said Miller.

Senior managing director John Brownlee (bottom left photo) handled the debt portion of the transaction on behalf of Sunstone Realty Advisors, arranging the $12.845 million loan through Wachovia Multifamily Capital, Inc. – FNMA.

The financing has a seven-year term and a 5.38 percent fixed-rate. Loan proceeds were used to acquire the property.

The Livingston is located at 6301 Windhaven Parkway adjacent to the Dallas North Tollway in the northern Dallas suburb of Plano.

The 96.7 percent leased property has one-, two- and three-bedroom units averaging 1,188 square feet each. Community amenities include a swimming pool, fitness center, laundry facility and 190 attached garages.

“The Livingston’s location in West Plano is ideal. It is close to numerous corporations including EDS, Frito-Lay, Pizza Hut, PepsiCo, Dr Pepper/Seven Up, JCPenney and Mary Kay,” added Brownlee.

“In addition, West Plano led the Dallas/Fort Worth metro in multifamily demand during the last 12 months ending third quarter 2008, and forecasts predict the submarket will remain one of the metro’s demand leaders during the next 12 months.”

Tonti Properties focuses on the development, acquisition, management and ownership of multifamily apartment communities throughout the Southeast and Southwest.

Headquartered in Vancouver, British Columbia, Sunstone Realty Advisors invests in multifamily assets throughout Canada and the United States.

Contacts:

John S. Brownlee, (214) 265-0880, Senior HFF Managing Director, jbrownlee@hfflp.com

William D. Miller, (214) 265-0880, HFF Managing Director, bmiller@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

HFF and Inland Western team on maturing debt

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today it has been engaged by Inland Western Retail Real Estate Trust, Inc. (“Inland Western”) to assist the REIT with outstanding debt maturities for retail properties nationwide.

A team of HFF professionals has been working with Inland Western since fourth quarter 2008 to secure a combination of new financing and extensions.

To date in 2009, HFF and Inland Western have closed 10 loan transactions through a variety of life companies and banks totaling approximately $120 million.

Examples of the financed assets include: Preston Trail Village in Dallas, Texas; Southlake Town Square Block 22 in Southlake, Texas (middle right photo); The Shops at Park Place in Plano, Texas (above centered photo); The Village Shoppes at Simonton in Lawrenceville, Georgia; Shoppes of New Hope in Dallas, Georgia; and Hickory Ridge in Hickory, North Carolina.

In addition to the $120 million in loans closed year-to-date, HFF has utilized a network of life companies, banks and other balance sheet lenders to secure approximately $75 million in committed financing, which is anticipated to close within the next 30 to 60 days.

Additionally, nearly $300 million of debt is in various stages of negotiation for refinance and long-term extensions.

“Given the current capital markets environment, it is a testament to the quality of both the sponsorship and the assets that HFF is able to attract solid support and negotiate nearly $500 million in financing for Inland Western,” said HFF managing director Kevin MacKenzie (bottom right photo).

“Inland Western’s management team is very highly regarded and is focused on handling their debt maturities in a thoughtful manner, including building long term relationships with the lenders involved. The lenders that are actively engaged appreciate the quality of the assets, the realistic underwriting assumptions being used and the opportunity to make strong fundamental loans to a best-in-class sponsor.”

“HFF has an outstanding reputation, and our refinancing efforts were strengthened by enlisting HFF to work with us on our maturing debt,” commented Steve P. Grimes, (bottom left photo) chief financial officer of Inland Western.

“We have developed a tailored, systematic approach to our maturing debt utilizing their extensive network and deep knowledge of the debt marketplace. Their ability to capitalize on existing relationships has been demonstrated by the traction they have gained for us in this challenging environment.”

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust focused on the acquisition, development and management of retail properties, including lifestyle, power, community and neighborhood centers, in addition to single-user net lease properties in locations demonstrating solid demographics.

As of March 31, 2009, the portfolio consisted of 334 properties nationally, which the company owned or had interests in, totaling in excess of 51 million square feet.

For further information, please see the company website at http://www.inlandwestern.com/.

Contacts:

Kevin C. MacKenzie, HFF Managing Director (214) 265-0880 kmackenzie@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500 krmurphy@hfflp.com