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Real Estate Company HFF
DALLAS, Apr 07, 2010 — The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $90 million refinancing for four phases of Southlake Town Square, a Class A entertainment and lifestyle center in Southlake, Texas.
The HFF team worked on behalf of the borrower, Inland Western REIT, to secure the seven-year, 6.25% fixed-rate loan through MetLife Real Estate Investments. The refinancing is replacing maturing CMBS loans and a bank loan.
Southlake Town Square consists of a six phase mixed-use development that was completed within the last 10 years. The refinancing is for four phases, which total 507,500 square feet out of the total 841,029 square feet of the entire Southlake Town Square shopping center. The master development contains more than 150 tenants including: Harkin’s Theatre, CitiFinancial, Barnes and Noble, The Container Store, Banana Republic, Gap, Victoria’s Secret, Brooks Brothers, and a variety of other well-known national brands and restaurants. Southlake Town Square is situated between Texas Highway 114 and Southlake Boulevard close to the Dallas/Fort Worth International Airport in Southlake.
“Southlake Town Square is located in one of the most affluent areas in North Texas and enjoys a wide draw due to the unique mix of shopping, dining, entertainment and lodging options. The asset is generally regarded as the first and most successful mixed-use town center development in DFW and the State of Texas. The asset’s prominence, along with the strong tenant performance and the experience of Inland Western as an owner and manager, made this a very compelling loan opportunity,” said Kevin MacKenzie, a managing director at HFF involved in the financing.
Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States. As of December 31, 2009, the portfolio under management totaled in excess of 46 million square feet, consisting of 299 consolidated operating properties. The company also has interests in 11 unconsolidated operating properties and 11 properties under development. For further information, please see the company website at www.inlandwestern.com.
HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.
SOURCE: HFF
HFF
Managing Director
Kevin C. MacKenzie, 214-265-0880
kmackenzie@hfflp.com
or
Associate Director, Marketing
Kristen M. Murphy, 713-852-3500
krmurphy@hfflp.com
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