Monday, March 21, 2011

HFF secures $44 million financing for Two City Place in Fort Worth, TX

DALLAS, TX – HFF announced today that it has secured $44 million in financing for Two City Place (top left photo), a 315,225-square-foot, recently renovated office tower in Fort Worth.

Working exclusively on behalf of Spire Realty Group, Inc. HFF placed the five-year, 5.72 percent fixed-rate loan with JP Morgan Chase Bank, N.A.  Loan proceeds were used to acquire the property.  HFF will also service the loan.

Two City Place is located at 100 Throckmorton Street and is part of the City Place development, a 1.2 million-square-foot twin tower landmark formerly called Tandy Center that spans four blocks in Fort Worth’s central business district. 

The property was originally built in 1976 and was fully renovated in 2008.  The Class A office tower is 82 percent leased to tenants including Range Resources and First American Payment Systems.

The HFF team representing Spire Realty Group, Inc. included senior managing director Wally Reid (middle right photo), director Travis Anderson and real estate analyst Corby Chaffin.

Spire Realty Group, LP is a privately-held real estate investment and management company based in Dallas, Texas. The company currently owns and manages a diverse portfolio including commercial office buildings, retail centers, multifamily projects, parking facilities, and land development sites. 

Wallace Reid, HFF Senior Managing Director, (713) 852-3500 
Travis Anderson, HFF Director, (214) 265-0880,
 Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500.

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