HFF secures construction financing for last remaining site in Charleston’s Faber Executive Park
CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a construction loan for the development of Faber Plaza, a 125,000-square-foot speculative office development in Charleston, South Carolina.
HFF placed the loan working on behalf of the borrower, Durlach Associates and Trinity Capital Advisors.
Faber Plaza, located at 4400 Leeds Avenue, is the last remaining site within Faber Plaza zoned for office development. The 9.11-acre site has direct access to Interstate 526 and is within 10 miles of numerous economic drivers including Boeing’s Dreamliner assembly plant, the Charleston International Airport, Joint Base Charleston, the North Charleston Terminal, the Space and Naval Warfare Systems Center and downtown Charleston. Due for completion in 2016, the 100 percent speculative office development will be built with “best of class” standards that will make it North Charleston’s premier suburban office building.
The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.
“Given the best-of-class sponsorship, pent up demand in the 95% leased Faber Executive Park, and the fact that this is the last remaining office site within the Park, we believe this will be a very successful project for the sponsor and North Charleston,” said Anderson.
About Durlach Associates
Founded in 1979, Durlach Associates has developed some of Charleston’s largest and most successful projects. Lead tenants include Fortune 500 companies, government agencies, and leading law firms. Durlach Associates consistent record of delivering quality projects on time and within budget satisfies tenants and produces excellent returns for investors and partners. Durlach Associates has developed, leased, and managed in excess of 1.5 million square feet of Class A office space, and is actively working on projects for future delivery. To learn more about Durlach Associates, visit durlach.com
About Trinity Capital Advisors
Founded in 2001, Charlotte-based Trinity Capital Advisors focuses on the acquisition and development of institutional quality office, industrial, and mixed use real estate in the Southeastern United States. The firm has invested approximately $1.8 billion since inception. Trinity Capital has acquired or developed some of the most successful real estate projects in the Southeast, including Ally Center, NASCAR Plaza, Perimeter Woods Business Park, Toringdon Office Park, and Westlake Business Park. Investments are capitalized through Trinity Capital’s Value Fund series as well as through partnerships with some of the country’s top institutional investors. For more information about Trinity Capital, please visit our website at trinitycapitaladvisors.com.
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.