Press Release brought to you by HFF

HFF closes sale of and secures acquisition financing for industrial building with a long-term lease in Houston, Texas

06/29/2015

HOUSTON, TX – June 29, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for 8787 Wallisville Road, a single-tenant, 126,821-square-foot industrial distribution facility 100 percent leased to Briggs Equipment in northeast Houston, Texas.

 

HFF arranged the sale of the property on behalf of the seller, Twinrose Investments.  TMT Wallisville Investments, LLP purchased the asset for an undisclosed amount.  Additionally, working on behalf of the new owner, HFF arranged the 10-year, fixed-rate acquisition loan through Deutsche Bank and will service the securitized loan.

 

Located at 8787 Wallisville Road, the building has been occupied by Briggs Equipment, one of the oldest materials handling equipment producers in the U.S., via an absolute net lease since the building was completed in 1975.  Renovated in 1995 and again in 2006, the facility has 28’ clear heights and 24 exterior doors, including 10 truck wells.  One third of the building has office finish in the mezzanine level, and there are 142 parking spaces.  The facility is situated on a 10.1-acre tract in the southwest quadrant of the intersection of Interstate 610 (Houston’s north loop) and Highway 90, with frontage on both Highway 90 and Wallisville Road.  Additionally, the asset is within six miles of multiple major transportation modes including Interstate 10; two rail yards, Union Pacific Englewood Yard and PTRA North Rail Yard; and the Houston Ship Channel.  

 

The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, director Trent Agnew and real estate analyst Wesley Hightower.

 

The HFF debt placement team representing the new owner was led by managing director Steve Heldenfels and real estate analyst Joe Lerer.

 

“Twinrose has worked with HFF on purchase, sale and financing transactions throughout its company history,” said Rebecca Tudor, principal of Twinrose Investments.  “We are always pleased with the quality of the lenders and investors that HFF introduces to a transaction as well as the professionalism of the debt and investment sales teams from marketing and underwriting, to closing.”

             

About Twinrose Investments

Since its formation in 2001, Twinrose Investments has successfully carried out its plan to acquire, develop, and re-develop commercial real estate.  The company has completed more than $150 million in purchase, sale, and financing transactions in the Dallas and Houston metro areas.  For more information, visit www.twinroseinvestments.com.

 

About TMT Wallisville Investments, LLP

TMT Wallisville Investments, LLP brings commercial real estate experience, having purchased more than $14 million in commercial real estate assets throughout Canada.  The company’s business model has been to acquire real estate assets and hold them for long term cash flow benefits.  They have sold two assets to date, one located in Alberta and the other located in Saskatoon.  TMT Wallisville Investments is very pleased to have Briggs Equipment as its long term tenant.

 

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 licensed real estate broker.   

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CONTACTS:         
RUSTY TAMLYN, CCIM, SIOR
HFF Senior Managing Director    
(713) 852-3500
rtamlyn@hfflp.com


STEVE HELDENFELS
HFF Managing Director
(214) 265-0880
sheldenfels@hfflp.com

KRISTEN MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com

06/29/2015 - 18:15

Source

HFF

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