HFF secures $43.34 million financing for repositioning of Concord Airport Plaza in East Bay
SAN FRANCISCO, CA – July 12, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $43.34 million in financing for Concord Airport Plaza, a two-building office property totaling 350,256 square feet in Concord, California.
HFF placed the five-year, floating-rate loan with ACORE Capital, a leading commercial real estate finance company. Loan proceeds will be used to reposition the property.
Concord Airport Plaza is situated on a 7.94-acre site at 1200 and 1220 Concord Avenue less than two miles from the Concord BART Station in the East Bay area. This location has a robust amenity base, including retail offerings at Heritage Square, the Pleasant Hill Shopping Center and Sun Valley Shopping Center and freeway access via Interstate 680 and Highways 242, 4 and 24.
The HFF debt placement team was led by director Chris Gandy and associate Christie Donnelly.
About ACORE Capital
ACORE Capital, LP is a commercial real estate finance company focused on originating, acquiring and managing first mortgages, B-notes, mezzanine debt and preferred equity throughout the United States. ACORE, which is an acronym for Alpha Commercial Real Estate, specializes in providing borrowers with customized financing solutions at competitive rates and flexible terms. For investors, ACORE is focused on generating alpha through attractive commercial real estate debt investments coupled with superior risk management. ACORE is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan. For more information, please visit acorecapital.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.