HFF closes sale of and arranges financing for Class AA office property in Uptown Dallas

DALLAS, TX, December 2, 2014 - HFF announced today that it has closed the sale of and arranged financing for 3811 Turtle Creek, a 296,000-square-foot, Class AA office tower in Dallas' Uptown area.
 
HFF marketed the asset on behalf of the seller, MetLife Real Estate Investors.  KBS Capital Advisors purchased the property for an undisclosed amount.  HFF's debt placement team also secured a seven-year, 3.55 percent, fixed-rate acquisition financing on behalf of the new owner through a life insurance company. 
 
3811 Turtle Creek is situated on a 5.03-acre site at the intersection of Turtle Creek Boulevard and Blackburn Street adjacent to the Turtle Creek Village mixed-use development currently under construction.  This location is within blocks of West Village and the Katy Trail, and is close to Highland Park, one of the most affluent residential areas in the state of Texas.  The 21-story, recently-renovated property features a fitness center, and parking within an adjacent 899-space garage.  Tenants at the 81 percent leased center include Eagle Materials, Inc.; Prosperity Bank; Estes Okon Thorne & Carr; and Gables Residential.

MetLife Real Estate Investors oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages.  MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets.  For more information, visit metlife.com/realestate.

KBS Capital Advisors is KBS REIT II's external advisor and is an affiliate of KBS Realty Advisors, a private equity real estate company and SEC-registered investment adviser founded by Peter Bren and Charles J. Schreiber in 1992. Since its inception, KBS and its affiliated companies have completed transactional activity of more than $30 billion via 14 separate accounts, six commingled funds, five sovereign wealth funds and five non-traded REITs. For information, visit www.kbscapital.com.
 
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. HF.  HFF operates out of 23 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, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF. 

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker. 

CONTACTS:
ANDREW LEVY
HFF Senior Managing Director
(214) 265-0880
alevy@hfflp.com

JOHN ROSE
HFF Senior Managing Director
(214) 265-0880
jrose@hfflp.com

KRISTEN MURPHY
HFF Associate Director, Marketing
(617) 338-0990
krmurphy@hfflp.com