HFF closes sale of Preston Center Pavilion and Square in Dallas, TX

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Printer-friendly versionPrinter-friendly versionPDF versionPDF version  DALLAS, TX - December 17, 2013 – HFF announced today that it has closed the sale of Preston Center Pavilion and Square, a 230,842-square-foot urban infill shopping center in Dallas, Texas. HFF represented the seller, US Commercial, LLC (“USC”), on behalf of 35 tenant-in-common owners and procured the buyer, a private real estate fund advised by Crow Holdings Capital Partners, L.L.C. The transaction involved the assumption of the existing CMBS mortgage. Redeveloped in 2000, Preston Center Pavilion and Square is anchored by national tenants including DSW Shoe Warehouse, Marshalls, Gold’s Gym, CVS Pharmacy, Office Depot, Pei Wei, Chipotle and Salata. The property is situated in Dallas’ affluent Park Cities neighborhood at the intersection of Northwest Highway, Preston Road and the Dallas North Tollway. The HFF investment sales team representing the seller was led by senior managing directors Barry Brown, Jim Batjer and Doug Hazelbaker and managing director Ryan Shore. US Commercial, LLC is a full-service real estate advisory firm based in Ladera Ranch, California that has sponsored numerous tenant-in-common real estate investment programs. Crow Holdings Capital Partners, L.L.C. (“CHCP”) is the investment manager to a series of real estate private equity funds designed to generate current income and benefit from the capital appreciation of portfolio investments. The six funds have had total equity commitments from partners of approximately $4.1 billion, approximately $675 million of which was committed by Crow Family Holdings. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 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, offers 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 www.hfflp.com or follow HFF on Twitter at www.twitter.com/hff.

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