Tuesday, October 14, 2008

Allen Group Secures Bridge Loan for Part of Dallas Logistics Hub

Investment banker Holliday Fenoglio Fowler LP said Tuesday that it has arranged a $20 million bridge loan to recapitalize part of the 6,000-acre Dallas Logistics Hub.

Developer Allen Group secured the financing for the 1,031-acre portion of the project from American Bank of Texas.

“Despite a complex transaction and a historic level of disruption in the capital markets, they never waivered in their focus or in their commitment to this deal,” Holliday Fenoglio Fowler’s HFF John Ahmed said in a statement.

The land is located near Union Pacific Railroad’s Southern Dallas Intermodal Terminal and a similar terminal planned by Burlington Northern Santa Fe.

The Dallas Logistics Hub is planned to eventually contain 60 million square feet of industrial office and retail developments.