Dealmaker: HFF Arranges $220M for Portfolios

Holliday Fenoglio Fowler LP arranged nearly $220 million for various office, retail and multifamily projects nationwide.

International Business ParkIn Dallas, HFF secured $110 million in refinancing for a seven-building office portfolio totaling 801,153 square feet in North Dallas-area communities Plano and Carrollton, Texas.

Representing the Billingsley Co., HFF secured a three-year, floating-rate, non-recourse loan with two one-year extension options through Ares Commercial Real Estate Corp. Proceeds of the loan will be used to refinance the existing debt and stabilize the property.

The portfolio buildings are at 4000, 4120, 4100, 6400, 6404, 6500 and 6504 International Parkway within the International Business Park, a 50-acre office park in Plano and Carrolton. The buildings are situated near the northwest intersection of two of the most heavily trafficked highways in the Dallas-Fort Worth area, The Dallas North Tollway and President George Bush Turnpike. Completed between 1997 and 2001, the two- and three-story buildings are 87 percent leased. The portfolio features 24-hour security, on-site management and maintenance, a health club, café, gas grills for corporate and campus events and green spaces.

The HFF debt placement team representing the borrower was led by senior managing director Trey Morsbach and senior director Jim Curtin.

In Orlando, Fla., HFF arranged a $12.8 million refinancing for Adanson Marketplace, a 156,377-square-foot retail center anchored by Walmart Neighborhood Market.

HFF worked on behalf of the sponsor, Cutwater Capital LLC, to place the floating-rate loan with Iberia Bank. Loan proceeds will be used to pay off an existing loan and provide capital for future leasing.

Anchored by a new Walmart Neighborhood Market and Fuel Center completed in November 2016, Adanson Marketplace is home to Dollar Tree, Sam Ash Music Store, Metro PCS, McDonald’s and La Spada’s Subs. The center recently underwent renovations, including updating the façade, storefronts, sidewalks, landscaping and parking areas.

Situated on 14.7 acres at 902-1028 Lee Road, the center is located in an infill location along Adanson Street and Lee Road, which serves as a major east-west commercial corridor through Central Florida and exposes the center to 45,000 vehicles per day. Additionally, Adanson Marketplace is one-third of a mile from Interstate 4, Central Florida’s busiest highway.

The HFF debt placement team was led by senior managing directors Michael Weinberg and Brad Peterson.

“Despite all the headlines about the downfall of retail, there is still plenty of debt capital out there for grocery-anchored and necessity-based shopping centers like this one,” Weinberg said.

In Concord, Calif., HFF arranged $1.5 million in acquisition financing for 2093 Mount Diablo, a 14-unit multi-housing property.

HFF worked on behalf of the borrower, PTLA Real Estate Group, to secure the seven-year, fixed-rate loan with five years of interest only.

The property features studio and one-bedroom units ranging from 500 to 565 square feet and is less than six miles north of Walnut Creek and 30 miles northeast of downtown San Francisco, providing access to some of the Bay Area’s major employment centers via Interstate 68 and California 24.

The HFF debt placement team representing the borrower was led by director Chris Gandy.

In Houston, HFF arranged $66 million in construction financing for Phase I of the Buffalo Heights development, a grocery-anchored, mixed-use property in Houston’s Washington Avenue corridor.

HFF worked on behalf of the owner, BKR Memorial II LP, along with the developer, Midway, to secure financing through U.S. Trust, Bank of America Private Wealth Management.

At 3663 Washington Avenue, Phase I of the Buffalo Heights development will be anchored by a 90,000-square-foot H-E-B. It will also have 2,200 square feet of inline adjacent retail and 36,800 square feet of boutique, double-height office space in the three floors along Washington Avenue.

The multi-housing component, St. Andrie, will comprise 232 luxury urban apartment homes, including studio, one- and two-bedroom floor plans ranging from 553 to 1,545 square feet that offer views of downtown, Buffalo Bayou and River Oaks. The seven-story, mixed-use building is due for completion in 2019.

The HFF debt placement team representing the borrower was led by managing director Colby Mueck and director Matthew Putterman.

In suburban Chicago, HFF closed the sale of and arranged acquisition bridge financing for Corporetum Office Campus VI, a two-building office property totaling 168,698 square feet in Lisle, Ill.

HFF marketed the property on behalf of the seller, Winthrop Liquidation Trust, and procured the buyer, Center Core Properties, an Evanston, Ill.-based real estate investment firm that targets opportunistic investments in up-and-coming markets. Additionally, HFF worked on behalf of the buyer to secure the three-year bridge loan through Thorofare Capital that includes a facility for capital improvements and leasing costs.

Corporetum Office Campus VI is at 550 and 650 Warrenville Road within the larger Corporetum Office Campus, adjacent to Interstate 88 near the Interstate 355 interchange and about 25 miles west of downtown Chicago and 25 minutes from both O’Hare International and Midway Airports.

The four- and five-story buildings are 83.2 percent leased to tenants, including Fairway Mortgage, Primera Engineers, ABM Janitorial, Circle K and United Health Care. Amenities at the two-building campus include a fitness center, conference center, on-site café and deli, outdoor tenant balconies and 575 surface parking spaces.

The HFF investment sales team representing the seller comprised Patrick Shields, Jaime Fink, Jeff Bramson and Bryan Rosenberg.

HFF also secured a $20 million refinancing for a portfolio of eight Walmart shadow-anchored retail strip centers totaling 172,152 square feet in Texas cities.

HFF worked on behalf of the borrower, N3 Real Estate, to place the three-year, floating-rate, non-recourse loan with two one-year extension options with Southside Bank.

Each of the properties is situated in highly visible locations along a primary thoroughfare with traffic counts of more than 51,000 vehicles per day.

The portfolio comprises Alamo Corners Shopping Center at 1449-1451 West Duranta Avenue in Alamo; Dumas Corners Shopping Center at 2025 South Dumas Avenue in Dumas; Hereford Corners Shopping Center at 701 25 Mile Avenue in Hereford; Hudson Oaks Corners Shopping Center at 200 South Oakridge Drive in Hudson Oaks (Fort Worth); Ovilla Corners Shopping Center at 109 East Ovilla Road in Red Oak (Dallas); Sweetwater Corners at 301 Northeast Georgia Avenue in Sweetwater (Abilene); Victoria Corners II at 9104 North Navarro Street and Victoria Corners III at 8806 North Navarro Street in Victoria. Shadow anchored by Walmart stores, notable tenants of the 89.5-percent-leased portfolio includes Dollar Tree, Anytime Fitness, Sports Clips, GameStop, AT&T, Subway, UPS Store and CATO.

The HFF debt placement team representing the borrower was led by director De’On Collins.