HFF announces $64.45M financing for Amber Oaks in Austin, Texas
NEWPORT BEACH, CA – November 20, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces $64.45 million in financing for Amber Oaks, a 543,544-square-foot, nine-building, Class A office campus in Austin, Texas.
The HFF team worked on behalf of the borrower, Menlo Equities, to secure the five-year, floating-rate loan through Wells Fargo Bank.
Amber Oaks is comprised of nine buildings at 13620-13640 Briarwick Drive and 9300-9501 Amberglen Boulevard in the Far Northwest submarket of Austin. The 61-acre site is adjacent to State Highway 45 and has excellent access to U.S. Highway 183, Parmer Lane, MoPac Expressway (Loop 1), Interstate 35 and State Highway 130, which provide access to downtown Austin and the high growth suburban communities of Cedar Park, Round Rock and Pflugerville, among others. Many of Austin’s largest corporate employers such as Apple, Dell, IBM and Charles Schwab reside in the property’s submarket as do many of Austin’s top retail destinations such as Lakeline Mall, La Frontera and Domain. The campus is 93 percent leased to tenants including Oracle, Office Depot, AECOM and Toshiba America. Designed to meet today’s tenants needs, Amber Oaks offers large and efficient floor plates, a high parking ratio of 5 spaces per 1,000 square feet, basketball and tennis courts, outdoor seating areas in a park setting, and is adjacent to a 120,000-square-foot Life Time Fitness facility.
The HFF debt placement team representing the borrower included senior managing director and co-head of HFF’s West Coast region Kevin MacKenzie, senior director Casey Wenzel, director Jamie Kline and analyst Nick Lench.
About Menlo Equities
Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered on Sand Hill Road in Menlo Park, California, Menlo Equities is a vertically integrated real estate investment firm engaged in the acquisition, development and operation of properties in many of the country’s most robust technology-centric submarkets. Since its founding, Menlo Equities has acquired or developed approximately $5 billion in assets comprising more than 100 separate transactions. Menlo continues to be an active buyer and is seeking additional acquisition opportunities for its current platform, Menlo Equities Absolute Return Fund, with a focus on extremely well-located, high-quality office properties, generally NNN-leased to creditworthy tenants. menloequities.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.