HFF announced today that it has arranged financing for a portion of The Shops at Park Lane, a 1.2 million-square-foot mixed-use development in Dallas, Texas.
HFF worked on behalf of the borrower, Northwood Investors, to secure the long-term loan through ING Investment Management. The property was previously unencumbered with debt.
The Shops at Park Lane is a 33.5-acre mixed-use development located across from NorthPark Center in Dallas, Texas. The property consists of 600,000 square feet of retail, 340,000 square feet of office space, and 325 residential units known as The Heights at Park Lane. Completed in 2009, The Shops at Park Lane is leased to Whole Foods, Dick’s Sporting Goods, Nordstrom Rack, Saks Off Fifth, Bloomingdale’s – The Outlet Store, HomeGoods, Old Navy, Gordon Biersch, Grimaldi’s Pizza and additional entertainment and dining offerings, along with office tenants Kosmos Energy and the Art Institute of Dallas.
The HFF team representing the borrower was led by managing director Travis Anderson and associate director Jim Curtin.Northwood Investors is a leading privately-held global real estate investment firm with over $2 billion of real estate assets. Founded in 2006 by John Z. Kukral, Northwood employs a fundamental, value-driven investment strategy with a longer-term outlook. Northwood has extensive experience investing in a wide range of real estate assets worldwide, including office buildings, shopping centers, hotels and residential investments, over multiple cycles and property types and geographies, providing the firm with a deep knowledge base, strong relationships, and tremendous access to global real estate resources. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. www.hfflp.com.