DALLAS--(BUSINESS WIRE)--Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing of Highland Park Village, America’s first outdoor shopping center and home to more than 250,000 square feet of luxury designer stores and restaurants in the upscale Highland Park neighborhood of Dallas, Texas.
The HFF team worked on behalf of the borrower, HP Village Partners, LP, to secure the new long-term fixed-rate loan with TH Real Estate, an investment affiliate of Nuveen (the investment management arm of TIAA), one of the largest real estate investment managers in the world with over $100 billion in AUM. Additionally, HFF will service the loan.
Completed in 1931, Highland Park Village is designated as a National Historic Landmark and is recognized as the first outdoor shopping center constructed in the U.S. The center comprises seven buildings separated by a circuit of pedestrian walkways and one-way drives with storefront parking along with valet service. The center is leased to 75 tenants, including fashion icons such as Hermès, Chanel, Jimmy Choo, Christian Louboutin, Harry Winston, Tom Ford, Christian Dior, Cartier, Valentino and Tory Burch and restaurants like Mi Cocina, Bistro 31, Honor Bar, Café Pacific and two new restaurants opening soon: the Nick Badovinus concept Perfect Union Pizza Company and Julian Barsotti’s Fachini. Situated on 9.7 acres in the northern part of Dallas, the center is at the southwestern corner of Preston Road and Mockingbird Lane in the historic and affluent Highland Park neighborhood, one mile from the campus of Southern Methodist University. The average annual household income within a one-mile radius of Highland Park Village is more than $215,900.
The HFF debt placement team representing the borrower consisted of senior managing director John Brownlee and senior director Cullen Aderhold.
“Highland Park Village continues to evolve to meet the needs of our tenants, our shoppers and our community,” said Ray Washburne, President of HP Village Partners. “This financing will provide us with the capital necessary to invest in our property for decades to come. We wish to thank HFF for their professional placement of this mortgage debt and look forward to a long-term relationship with TH Real Estate as our partner.”
“We are very pleased to have added this iconic retail center to our U.S. loan portfolio,” said Ted Norman, TH Real Estate’s U.S. Head of Originations. “The HFF team did a great job on this transaction, and we are excited to be working with a top-tier sponsor in HP Village Partners for many years to come.”
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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.