$80 million financing secured by HFF for Mockingbird Station in Dallas, Texas
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $80 million in financing for Mockingbird Station, a 560,468-square-foot, open-air, mixed-use multi-housing, retail and office property in Dallas, Texas.
HFF worked exclusively on behalf of the borrower to place long-term, fixed-rate acquisition financing through Cornerstone Real Estate Advisers, acting on behalf of an institutional client. HFF also assisted in the sale of the property to the borrower in late 2015.
Mockingbird Station is situated on 8.897 acres at 5307 East Mockingbird Lane adjacent to the Mockingbird Station Dallas Area Rapid Transit (DART) light rail station and North Central Expressway. Completed in 2001, the asset is across the freeway from Southern Methodist University and is centrally located between the city’s most affluent neighborhoods, including Highland Park, University Park and Lake Highlands. The property has 211 Class A, loft-style multi-housing units and features resident amenities such as an Olympic-sized rooftop lap pool and spa, 24-hour health club and 233-space gated parking garage. Additionally, the property features 148,878 square feet of 94.4-percent-leased Class A office space; 197,367 square feet of retail, which is 91.8 percent leased to tenants such as Angelika Film Center, West Elm, Urban Outfitters, Ann Taylor and Starbucks; and a mix of 1,257 additional surface and garage parking spaces for the retail/office components.
The HFF debt placement team representing the borrower was led by associate director Michael Cosby and senior managing director Wally Reid.
About Cornerstone Real Estate Advisers
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe, and Asia, is one of the largest global real estate investment managers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. For more information, visit www.cornerstoneadvisers.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.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.