$41.4 million acquisition financing for TownPark Commons in Kennesaw, Georgia, arranged by HFF
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $41.4 million in financing for the acquisition of TownPark Commons, a 349,635-square-foot office building in Kennesaw, Georgia, a northwest suburb of Atlanta.
The project was acquired by the TSP Value and Income Fund, a discretionary value-add real estate fund managed by Transwestern Investment Group. The fund seeks to deliver attractive risk-adjusted returns with a focus on current income and lower volatility. Working on behalf of the buyer, HFF placed the five-year, fixed-rate loan with Ares Management. In addition to funding the acquisition of the property, the loan will also fund tenant improvements and leasing commissions.
Town Park Commons is located at 125 TownPark Drive in a business park setting between Interstates 575 and 75 in the northwestern greater Atlanta area. The 99.6 percent leased property is anchored by Enercon, an architectural, engineering, environmental, technical and management services firm.
The HFF debt placement team representing the borrower was led by senior managing director Brian Carlton and director Gregg Shapiro.
About Transwestern Investment Group
Transwestern Investment Group is an investment advisor serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Its client-focused, relationship driven approach ensures its priorities are its clients' investment objectives. Trust, integrity and transparency are the cornerstones of its business. Transwestern Investment Group provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 34 U.S. offices and a development company. For more information, please visit transwesterninvest.com.
About Ares Management, L.P.
Ares Management, L.P. (Ares) is a publicly-traded, leading global alternative asset manager with approximately $87 billion of assets under management as of March 31, 2015, and more than 15 offices in the United States, Europe and Asia. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole. For more information, please visit www.aresmgmt.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.