HFF closes sale of and arranges financing for The Campus at Arboretum in Austin
DALLAS, TX – July 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and arranged acquisition financing for The Campus at Arboretum, a five-building, Class A office campus totaling 318,534 square feet in Austin, Texas.
HFF marketed the property on behalf of the seller, DivcoWest, and procured the buyer, a partnership between Vanderbilt Partners and True North Management Group LLC. Additionally, HFF placed the five-year, floating-rate acquisition loan on behalf of the purchaser with JP Morgan Chase.
The Campus at Arboretum comprises Buildings I – III at 10415 Morado Circle, Building IV at 10814 Jollyville Road and Building V at 10431 Morado Circle in Austin’s Northwest submarket. The 16.5-acre campus is close to Apple’s North Austin Operations Center, less than five minutes from the Domain, and close to major highways including US-183 (Research Boulevard), Capital of Texas Highway (Loop 360) and MoPac (Loop 1). Additionally, The Campus at Arboretum is within walking distance to more than 100 restaurants and retailers at Arboretum, Arboretum Market, Great Hills Market and North Hills Town Center. Completed between 1986 and 2000, the three-story buildings are 97 percent leased to tenants, including BMC Software, Inc.; vAuto, Inc.; Freese and Nichols, Inc.; and Trion Worlds, Inc. The campus features patios, sculptures, outdoor seating, water features, picnic/gaming areas, sand volleyball, basketball court, walking trails and two-four level parking structures. Tenants also have access to a fitness center and food trucks make daily visits to the property.
DivcoWest was founded by Stuart Shiff, who founded DivcoWest Properties in 1993. DivcoWest is a vertically-integrated operating company with approximately 95 employees that provides asset, property and construction management and leasing services and has offices in the San Francisco Bay Area, Los Angeles, and Boston. DivcoWest is comprised of a dedicated group of professionals with experience in sourcing, structuring, acquiring, financing, developing, redeveloping, managing, leasing and selling primarily commercial real estate and other real estate-related assets. For more information, please visit divcowest.com.
About Vanderbilt Partners
Vanderbilt Partners (“Vanderbilt”) is a vertically-integrated real estate investment manager focusing on office investment opportunities throughout the U.S. Since its founding in early 2014, Vanderbilt has participated in +$1.9 billion of acquisitions over 9 deals totaling approximately 12.0 million square feet. Vanderbilt offers a full-line of real estate investment and management services, yielding synergies and significant value for investors. Through its affiliate, Vanderbilt Office Properties (“VOP”), Vanderbilt provides property management, leasing and accounting services. VOP manages over 5.6 million square feet and leases approximately 2.0 million square feet. Casey Wold, Vanderbilt’s Managing Partner, has 35 years of real estate experience and has held senior management positions at Tishman Speyer, Trizec and Equity Office Properties.
About True North Management Group
True North Management Group (True North), founded in 2004, is a privately held real estate investment management firm headquartered in White Plains, New York. Since inception, the firm has successfully completed more than 50 distinct debt and equity investments with more than $1.2 billion in transaction value involving office, retail, hospitality, multifamily and other property types throughout the United States. True North currently has ownership interests in approximately four million square feet of office properties.
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.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.