Sale of 17000 Katy Freeway in Houston’s Energy Corridor closed by HFF

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of 17000 Katy Freeway, a three-story, 174,521-square-foot office building in Houston’s Energy Corridor.

The HFF investment sales team was led by senior managing directors Rusty Tamlyn (top right photo)  and Dan Miller (top left photo)  and real estate analyst Trent Agnew, who represented the seller, CORE Real Estate and institutional investors advised by Prudential Real Estate Investors. Black Forest Ventures LLC purchased the property for an undisclosed price.

Completed in 2007, 17000 Katy Freeway is fully leased to Mustang Engineering. The property is situated on nearly 10 acres within the Park Ten Office Park on the north side of Interstate 10 in Houston’s Energy Corridor.

“In order to minimize rollover exposure, the tenant has separate leases for each floor, each with different expiration dates, which gives Black Forest Ventures ample time to re-tenant the building in case Mustang Engineering decides to downsize or vacate the property,” said Tamlyn.

“We are pleased with the services the HFF investment sales team has provided us during the purchase of our new investment. We look forward to serving the needs of our current tenant, Mustang Engineering, and maintaining a long-term relationship with them,” said Mr. Sean Quinn, senior asset manager for Black Forest Ventures.

Black Forest Ventures (BFV) is a privately-owned asset management and investment company, with over $250 million in real estate investments under its management. BFV has commercial properties primarily in The Woodlands, Texas; Boston, Massachusetts; and select European locations.

 For more information on BFV, please visit http://www.blackforestventures.com/.

CORE Real Estate, LLC is a real estate investment and development company formed in 1997.

Since its formation, CORE has embarked on multiple office and industrial projects in the Houston area totaling 3,300,000 square feet and representing more than $250,000,000 in completion value.

Contacts:

Rusty Tamlyn, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500 rtamlyn@hfflp.com
Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500 dmiller@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com

 HFF closes sale of Class A multi-housing property in northern New Jersey

FLORHAM PARK, NJ – The New Jersey and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have closed the sale of The Highlands at Westwood, (lower right photo)  a 214-unit, Class A multi-housing community in Westwood, New Jersey.

HFF senior managing directors Jose Cruz (middle left photo)  and Andrew Scandalios (lower right photo)  and directors Kevin O’Hearn and Jeff Julien led the investment sales team on behalf of the seller, Prudential Real Estate Investors. Cornerstone Real Estate Advisers purchased the property; terms were not publicly disclosed.

The Highlands at Westwood is located at 7101 Cenrose Circle close to the Westwood New Jersey transit rail station, the Garden State Parkway, Palisades Parkway and Interstate 80, which all provide access to Manhattan, approximately 15 miles southeast.

The 100% leased property has seven buildings with one- and two-bedroom units averaging 971 square feet each. Community amenities include a swimming pool, fitness center, business center, clubroom with billiards table and garage parking.

Prudential Real Estate Investors is the real estate investment management business of Prudential Financial, Inc. PREI’s business is the execution of real estate investment strategies, in markets throughout the world, for a global client base.

Cornerstone Real Estate Advisers LLC, with offices in the US, UK, Europe and Asia, is one of the world's largest real estate investment advisers.

 It provides core and value-added investment and advisory services, including a comprehensive suite of real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. www.cornerstoneadvisers.com.

Contacts:

Jose R. Cruz, HFF Senior Managing Director, (973) 549-2000, jcruz@hfflp.com
Andrew G. Scandalios, HFF Senior Managing Director, (212) 245-2425, ascandalios@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,
krmurphy@hfflp.com