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HFF closes sale of and secures $26.35 million combined financing for three industrial portfolios in Dallas and Austin, Texas

05/06/2015

DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured $26.35 million in acquisition financing for three industrial/flex facility portfolios totaling eight properties and 594,469 square feet in the Dallas-Fort Worth area and Austin, Texas.

HFF marketed the three portfolios on behalf of separate sellers:  Americo Real Estate, Ltd. (Americo); Vintage Interests and an unnamed seller.  Working on behalf of the buyer and borrower, KFG Investment Company (KFG), HFF secured three separate 10-year, fixed-rate loans through Unum Life Insurance Company of America, including the $10.35 million loan for the four-property Dallas-Fort Worth (DFW) portfolio, sold by Americo; the $5.5 million loan for a two-property portfolio in Plano, sold by Vintage Interests; and the $10.5 million loan for a two-property portfolio in Austin.  HFF is servicing all three loans.

The four-property, Class A DFW portfolio is comprised of the 39,559-square-foot Beltline Business Center in Irving; the 39,181-square-foot 1600 10th Street in Plano; and the 80,791-square-foot TriStar Tech Center and 83,896-square-foot Carrier Place in Grand Prairie. The portfolio is 96 percent leased.  The two-property Plano portfolio consists of Summit Service Center, a 95,187-square-foot center totaling three buildings that is 98 percent occupied by 19 tenants, and the 100-percent leased Jupiter Tech Center, which has 36,695 square feet and six tenants.  

The two-property, Class A Austin portfolio consists of the 124,390-square-foot Techi Center, which has two shallow-bay buildings 100 percent occupied by four tenants, and the 94,770-square-foot, five-building Cameron Center, which is 94.7 percent leased to 11 tenants.

The transaction represents a sale and exchange program by KFG designed to expand and diversify its portfolio.  HFF coordinated the sale of assets in Southern California, the acquisition of replacement properties in Texas and sourced the acquisition debt for the replacement properties to facilitate the completion of the exchange.

The HFF investment sales team representing the three portfolio sales to KFG was led by senior managing director Randy Baird, managing director Jud Clements, director Robby Rieke and real estate analysts Stephen Bailey and Parker McCormack.

The HFF debt placement team representing the borrower was led by senior managing director Mona Carlton, associate director Chad Russell and real estate analyst Kris Lowe.

The HFF investment sales team representing the sale of the Southern California assets was led by senior managing directors Anthony Brent and Ryan Martin.

About Americo Real Estate, Ltd
Americo is a real estate investment and asset management company located in Dallas, Texas.  The firm focuses on the acquisition and ownership of high quality industrial, office and flex properties located throughout the state of Texas.  The company's proven hands-on asset management style, characterized by quick decision-making and creative repositioning strategies, enables Americo to seize opportunities and maximize value.

About Vintage Interests
Vintage Interests is a privately owned real estate investment company focused on industrial properties within the Texas marketplace. 

About KFG Investment Company
KFG Investment Company is a privately-owned real estate investment company that is focused on the acquisition and repositioning of industrial and multifamily properties and the ownership and entitlement of residential land and residential master-planned communities. 

About Unum Group
Unum (www.unum.com) is one of the leading providers of employee benefits products and services and the largest provider of disability insurance products in the United States and the United Kingdom.

About HFF
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 and California licensed real estate broker.    California Department of Real Estate, License Number 01385740.

05/06/2015 - 17:00

Source

HFF

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