$74.5 million refinancing secured by HFF for 3-property Class A industrial portfolio in Fort Worth, Texas
DALLAS, TX – April 4, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $74.5 million refinancing for a three-property, Class A industrial portfolio totaling 1.6 million square feet within the AllianceTexas development in Fort Worth and Roanoke, Texas.
HFF worked on behalf of the borrower, Hillwood, to place the 10-year, fixed-rate loan with a correspondent life insurance company. HFF is servicing the loan, proceeds of which are refinancing the existing construction loans.
Completed between 2014 and 2015, the portfolio is anchored by Alliance Center North 2, a 1 million-square-foot, 58.7-acre distribution center 100 percent leased to Wal-Mart and located at 15101 N. Beach Street in Fort Worth. The two portfolio buildings in Roanoke are Gateway 88, a 333,200-square-foot, build-to-suit facility for Heritage Bag Company located at 501 Gateway Parkway, and Gateway 57, a 210,296-square-foot facility that is home to Momentum Fuel Technologies and located at 1051 Republic Drive. All three buildings are within AllianceTexas, an 18,000-acre, mixed-use, master-planned community developed by the borrower with office, industrial, commercial, retail and residential components. The portfolio buildings are close to Interstate 35 and BNSF Railway’s Alliance Intermodal Facility in addition to being proximate to Fort Worth Alliance Airport. Dallas-Fort Worth International Airport is less than 21 miles southeast of the properties.
The HFF team was led by director Cullen Aderhold and senior managing director Trey Morsbach. Hillwood Properties Director of Finance Meggie Lowy managed the transaction for Hillwood.
“We received a strong refinancing package for this portfolio and look forward to expanding the relationship through future opportunities,” Lowy said. “HFF played a valuable role in this transaction, and we appreciate its efforts to provide us with the most competitive quotes in the marketplace.”
Hillwood, a Perot company, is a full service real estate developer, investor and advisor of high quality real estate properties. With more than 110-million square feet of industrial development and acquisitions to date, our dedicated team is committed to bringing long term value to our customers, partners and the communities that we serve. Today, Hillwood is actively involved in development, acquisitions, construction, leasing, property management and asset management of high quality, well located, flexible and functional industrial properties located throughout North America and Europe. For additional information, visitwww.hillwood.com.
AllianceTexas (www.alliancetexas.com) is an 18,000-acre, master-planned community anchored by the world’s first industrial airport. It includes the Alliance Global Logistics Hub, Circle T Ranch and Alliance Town Center projects. AllianceTexas is now home to over 425 companies, which have built more than 40 million square feet and created over 45,000 jobs. Since its inception, it is estimated that AllianceTexas has generated approximately $60 billion in economic impact for the North Texas region.
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.