HFF arranges $32.75M permanent financing for The Berkeley in Fort Worth, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $32.75 million permanent financing for The Berkeley (top left photo), a 406-unit, Class A multi-housing community in Fort Worth, Texas.

HFF executive managing director Jody Thornton (top right photo)  and associate director John Ahmed worked exclusively on behalf of the borrower, owned by Lincoln Property Company and a multifamily development fund operated by Sarofim Realty Advisors, to secure the 35-year, fixed-rate FHA 223(f) loan through MAP lender, Metropolitan Funding Corporation.

 Proceeds will be used to retire the existing construction loan and recapitalize the asset with assumable, long-term, non-recourse financing.

The Berkeley is located at 2001 Park Hill Drive in the Berkeley neighborhood of Fort Worth, close to downtown, the hospital district and Texas Christian University.

Completed in 2008, the property features a clubhouse, fitness center, pool and spa, and conference room.

Sarofim Realty Advisors is a registered investment advisor with the Securities and Exchange Commission. The company manages real estate investments on behalf of institutional investors and has investments located throughout the United States. Sarofim Realty Advisors delivers investments that optimize the balance of risk and return.

Lincoln Property Company is one of the oldest and largest comprehensive, vertically integrated real estate firms in the United States. Founded by Mack Pogue (lower leftt photo) in 1965, Lincoln has grown to nearly 5,000 employees in more than 30 states and 200 cities.

Lincoln is currently ranked, in terms of size, as the fifth largest residential property manager in the United States, with more than 130,000 apartment units currently under management.

Over 65% of Lincoln’s apartment management portfolio is comprised of fee management accounts for third party investors. Lincoln manages conventional, military and affordable communities across the country.

Contacts:
John Ahmed, HFF Associate Director,(214) 265-0880 jahmed@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500 krmurphy@hfflp.com

HFF retained by Wells Fargo & Co.  to market for sale 42-acre development site in Dallas, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been retained by Wells Fargo & Company to market for sale Walnut Park, a 42.14 -acre development site in Dallas, Texas.

HFF senior managing directors Doug Hazelbaker (middle right photo)  and Bill Miller (middle left photo)  and managing director Ryan Shore will market the site on a fee-simple basis.

Walnut Park is located on the northwest corner of North Central Expressway (US-75) and Walnut Hill Lane adjacent to the Preston Hollow neighborhood.

“The property represents a rare opportunity to own one of the largest infill tracts of land in the southwest,” said Hazelbaker.

Contacts:

T. Douglas Hazelbaker,HFF Senior Managing Director (214) 265-0880
dhazelbaker@hfflp.com
William D. Miller,HFF Senior Managing Director (214) 265-0880 bmiller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500 krmurphy@hfflp.com