HFF closes sale of and arranges acquisition financing for 3000 Post Oak in Houston's Galleria submarket

HOUSTON, TX, December 18, 2014 - HFF announced today that it has closed the sale of and arranged acquisition financing for 3000 Post Oak, a 441,523-square-foot, Class A office building in Houston's Galleria submarket.

HFF marketed the property exclusively on behalf of the seller, a joint venture between an affiliate of Five Mile Capital Partners LLC and Crocker Partners.  FG Asset Management purchased 3000 Post Oak for an undisclosed amount.  Additionally, HFF's debt placement team worked on behalf of the buyer to secure acquisition financing.
 
3000 Post Oak is situated within the Lakes on Post Oak office complex adjacent to the Galleria Mall and Loop 610 in the Galleria/Uptown District of Houston.  The 19-story property and attached parking garage are 100 percent leased to engineering and construction firm, Bechtel.
 
The HFF investment sales team representing the seller was led by senior managing directors Jeff Hollinden and Dan Miller and director Trent Agnew.
 
HFF's debt placement team was led by senior managing director Wally Reid.
 
"This is FG Asset Management's first acquisition in Houston and is a great example of the strong interest that Korean investors and other foreign firms are showing in the Houston office market," said Hollinden.  "Well-located, Class A assets with quality tenancy and lease terms such as 3000 Post Oak are very much in demand by offshore capital."

Five Mile Capital Partners LLC (Five Mile) is an alternative investment and asset management company established in 2003.  The firm specializes in investment opportunities in real estate, debt products, structured finance, asset-based lending and financial services private equity.  Five Mile's principals have significant experience, knowledge and skills relevant to the financial services industry and believe the cyclical and dynamic nature of the sector continually provides a broad opportunity for investments across the capital structure.  The firm's headquarters are based in Stamford, Connecticut, with an office in New York City.  Five Mile has approximately $2 billion in assets under management. 

Crocker Partners is a full service commercial real estate firm with wide ranging expertise in investment management including acquisitions, leasing, property management, capital markets, new construction and redevelopment.  Targeting the southeast and southwest U.S. for compelling investment opportunities in high quality office and mixed-use properties, the company brings a disciplined approach, exceptional depth and market insight.   Since 1993, the Crocker team has acquired and managed more than 120 properties, representing $4 billion invested and has completed dispositions valued at $2.5 billion. Representing numerous institutional real estate investors, they have directed investments encompassing approximately 33 million square feet.

FG Asset Management (FG) is a Korean alternative asset management and financial services firm that specializes in real estate investment, private equity, and additional alternative investment strategies for Korean institutional investors.  FG focuses on preferred equity, mezzanine debt, whole loans, and B-note positions in prime office, hotel, retail, and multi-family properties located in top tier markets of US and Europe.   The firm's headquarters is based in Seoul, with an office in Manhattan.  For other track record and information, please visit http://www.fgam.co.kr/eng/operating/operating_list.asp

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:
JEFF HOLLINDEN
HFF Senior Managing Director
(713) 852-3500
jhollinden@hfflp.com

H. DAN MILLER, CCIM, SIOR
HFF Senior Managing Director
(713) 852-3500
dmiller@hfflp.com

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