Thursday, December 05, 2013

HFF Arranges $100M for Tower at Cityplace

DALLAS-HFF says it has arranged $100 million in financing for Miami-based Parmenter Realty Partners to acquire Tower at Cityplace, a 1.3 million-square-foot, class A office tower in the Uptown District.

HFF worked exclusively on behalf of the borrower, to secure a loan through GE Capital Real Estate. Loan proceeds were used to buy 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% 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.
By David Phillips