HFF arranges $17.729 million financing for retail power center near Dallas, Texas
MIAMI, FL – July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $17.729 million in post-acquisition financing for Creekwalk Village, a 174,484-square-foot, fully leased retail power center in the north Dallas-area community of Plano, Texas.
HFF worked on behalf of the borrower, an entity controlled by Sterling Organization, to place the loan with Southside Bank.
Creekwalk Village is home to Michaels, Bed Bath & Beyond, Barnes & Noble, Petco, Old Navy, Designer Shoe Warehouse, Plano Urgent Care, Uptown Nail Spa and Hallmark. Situated on 14.71 acres at 801 West 15th Street, Creekwalk Village is proximate to Collin Creek Mall and the 180-acre CityLine mixed-use development comprising three million square feet of office and 92,000 square feet of retail space; a Whole Foods Market; 1,700 residential units and 150 hotel rooms. Approximately 103,699 residents earning an average estimated annual household income of more than $94,500 live within three miles of the property.
The HFF debt placement team was led by senior managing director Chris Drew, senior director Nat Scarmazzi and director De’On Collins.
About Sterling Organization
Sterling Organization is a vertically integrated private equity real estate firm that has an established track record of providing exceptional risk-adjusted returns to its partners, in both relative and absolute terms. The company’s national platform is focused on investing in value-add retail real estate assets and stabilized/core grocery-anchored shopping centers in major markets across the United States on behalf of Sterling’s principals in partnership with the highest quality institutional investors. Sterling Organization is headquartered in Palm Beach, Florida. sterlingorganization.com
About Southside Bank
Southside Bancshares, Inc., the holding company for Southside Bank, is headquartered in Tyler, Texas. With approximately $5.7 billion in assets, Southside Bank operates 60 banking facilities in East, North and Central Texas. The bank also operates a network of 70 local ATMs and is affiliated with more than 55,000 foreign ATMs worldwide.
Established in 1960, Southside Bank is a community-focused financial institution that offers a full range of financial services to individuals, businesses and nonprofit organizations. These services include: consumer and commercial loans; mortgages; loans to municipalities; personal, small business and commercial deposit accounts; safe deposit boxes; treasury management; credit cards; ATMs; trust and wealth management; brokerage services; and an array of online and mobile services. southside.com
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). 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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.