Holliday Fenoglio Fowler, L.P. (HFF) announces the $17.2 million acquisition financing for Concourse Lakeside I and II, a two-building, Class A office portfolio totaling 154,553 square feet in the Raleigh-Durham community of Morrisville, North Carolina.
The HFF team worked on behalf of the borrower, a joint venture between Foundry Commercial and Hart Realty Advisers, to secure the five-year, floating-rate acquisition financing through TD Bank. HFF was also involved in the sale of the property to the borrower, which was previously announced.
The properties are located at 2801 and 2803 Slater Road in the RTP/I-40 submarket of Raleigh-Durham. The 13.25-acre site is proximate to Research Triangle Park, RDU International Airport and Interstates 40 and 540, offering regional connectivity to the surrounding Raleigh-Durham metropolitan area.
HFF’s debt placement team representing the borrower included senior managing director Travis Anderson and senior director Roger Edwards.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a North Carolina licensed real estate broker.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with 300 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control nearly $1 billion in advantaged investment opportunities in partnership with its clients. For more information, visit foundrycommercial.com.
About Hart Realty Advisers
Founded in 1982, Hart Realty Advisers, LLC is a closely held real estate investment management firm specializing in private equity core and value-added solutions. The firm provides customized investments for its institutional clients so that their unique risk and diversification requirements are best matched with opportunities in the marketplace. Hart has acquired approximately $2.0 billion of real estate on behalf of their institutional clients. Hart Realty Advisers, LLC is an institutional real estate advisor located in Simsbury, CT. For more information, visit hartadvisers.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visithfflp.com or follow HFF on Twitter @HFF.