$73.5 million construction/permanent loan for Class AA Fort Worth office project arranged by HFF
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $73.5 million construction loan for the development of Frost Tower Fort Worth, a 278,000-square-foot, Class AA office tower in downtown Fort Worth, Texas.
HFF worked on behalf of the borrower, Anthracite Realty Partners, an affiliate of Jetta Operating Company, Inc., to secure the three-year, floating-rate loan through Bank of the Ozarks.
Due for completion in December 2017, Frost Tower Fort Worth will be a 25-story tower with ground floor retail and more than 900 above and below grade parking spaces. Frost Bank will be the anchor tenant and Jetta Operating Company will move its corporate headquarters to the new building making Frost Tower Fort Worth 56 percent preleased. Project amenities will include a sky lobby on the 12th floor that will feature views of downtown, high-tech C-level suites for senior executives, a fitness facility, café and outdoor terraces. Conference facilities will be available in a variety of sizes with multiple breakout and gathering areas. The development site is situated on three quarters of a city block, at Taylor and 5th Streets, adjacent to Sundance Square in downtown Fort Worth. Nearby cultural attractions include Bass Performance Hall, the Cultural Arts District, West 7th and the Fort Worth Stockyards.
HFF’s debt placement team was led by senior managing director Trey Morsbach and director Cullen Aderhold.
About Anthracite Realty Partners
Anthracite Realty Partners is an affiliate of Jetta Operating Company, a successful private oil and gas company based in Fort Worth. Since its founding in 1991, Jetta has grown from one to 238 full-time employees, 140 of them headquartered in the current offices at 777 Taylor Street in Fort Worth, one block from the new building site. Besides oil and gas properties, Jetta’s affiliates have also developed and currently operate mid-stream assets that transport oil, gas and water for their related properties.
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.