PRESS RELEASE: $35.3 Million Acquisition Financing for Single-Tenant Office Building in Austin Secured by HFF

Dallas – HFF announced today that it has arranged $35.3 million in acquisition financing for a 320,000-square-foot, Class A single-tenant office building in Austin, Texas.

HFF worked exclusively on behalf of the borrower, Gladstone Commercial Corporation (NASDAQ: GOOD), to secure a non-recourse, fixed-rate securitized loan through Cantor Fitzgerald.

Located at 717 East Parmer Lane at the intersection of Tech Ridge Boulevard in north Austin, the property is 100 percent leased to a wholly-owned subsidiary of a Fortune 500 company.  Situated on 23 acres, the property was completed in 2000 and is located within the Tech Ridge Business Park, a 1,000-acre multi-use business park development.

The HFF team representing Gladstone was led by director Brandon Chavoya and also included senior managing director Mark West, director Coler Yoakam and associate director Robert Wooten.

Gladstone Commercial Corporation (NASDAQ:GOOD) is a real estate investment trust (REIT) that invests in and owns net-leased industrial, commercial and retail property.  The company currently owns a national portfolio consisting of approximately seven million square feet.

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.

TAGS: Lending Office