HFF closes sale of and secures financing for 3900 San Clemente in Austin
DALLAS, TX – August 10, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of and secured acquisition financing for 3900 San Clemente, a 251,143-square-foot, Class A office building in Austin, Texas.
HFF marketed the property on behalf of the seller, a partnership between a global real estate investment manager and HPI Real Estate, and procured the buyer, Menlo Equities. Additionally, HFF worked on behalf of the new owner to secure the four-year, floating-rate acquisition loan through a national bank.
3900 San Clemente is situated on 9.9 acres at 3900 N. Capital of Texas Highway, along the scenic Loop 360 corridor, northwest of downtown Austin. Loop 360 connects the western half of the city and provides access to major roadways, including MoPac Expressway, FM 2222, Bee Caves Road, Highways 71 and 290 and US Highway 183. Additionally, the five-story building is located within walking distance of two shopping centers, San Clemente at Davenport and Davenport Village, and is a short distance from The Domain, Barton Creek Mall, Arboretum and the executive housing communities of West Lake Hills, Lost Creek, Rob Boy, Austin Country Club and Lake Austin. Completed in 2008, 3900 San Clemente has typical floorplates of 50,000 square feet with floor-to-ceiling glass offering views of Hill Country and Lake Austin. Amenities include a fitness facility, balconies, curbside food truck service and a connected parking garage. 3900 San Clemente is 91 percent leased and boasts three investment grade anchor tenants: Samsung, VMWare and Maxim Integrated.
About HPI Real Estate Services & Investments
HPI is a full-service commercial real estate firm based out of Austin, Texas. Our core services include: property management, leasing, construction management, investment advisory, commercial development, and tenant representation. Today, HPI has offices in Austin, San Antonio, and Dallas. With over twenty-five years of experience as owners, investors, and managers of commercial real estate, HPI has developed an expert understanding on how to navigate through real estate challenges. HPI’s unmatched knowledge and expertise in local markets makes HPI the leading commercial real estate service provider in Central Texas. Backed by the best staff in the industry, we provide our clients and tenants the highest standard of service possible with the goal of developing long-lasting relationships.
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.
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.