DALLAS, TX – HFF announced today that it has arranged $100 million in financing for Tower at Cityplace, a 1.3 million-square-foot, Class A office tower in Dallas, Texas.
HFF worked exclusively on behalf of the borrower, Parmenter Realty Partners, to secure the loan through GE Capital Real Estate. Loan proceeds were used to acquire the asset with a future funding component for leasing and capital expenditures.
The Tower at Cityplace is located at 2711 North Haskell Avenue just north of downtown Dallas and visible from the North Central Expressway in Dallas’ Uptown District. The 45-story tower is 69 percent leased to tenants including Dean Foods, Lone Star/Hudson Advisors, AON Service Corporation and Headington Oil. The property features a 35,000-square-foot Larry North Fitness Center and Spa, 55,000 square feet of meeting room space, a 300-seat amphitheater, several dining options and direct access to the DART rail and McKinney Avenue Trolley service.
The HFF team representing Parmenter was led by senior managing director John Brownlee and associate director Jim Curtin.
Parmenter Realty Partners is a real estate investment, management and development company, headquartered in Miami, Florida, with regional offices in Dallas, Atlanta and Washington, D.C. Parmenter operates a series of institutional investment funds focused on the southeast, southwest and D.C. Metro regions of the U.S. The company is actively involved in the expansion of its portfolio in major markets, identifying and acquiring underperforming properties and utilizing its vertically-integrated platform to increase value on behalf of its investors.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 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 www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.