DALLAS, TX– HFF announced today that it closed the sale of and arranged financing for Market Heights, a 412,645-square-foot power center in Harker Heights, Texas within the Killeen-Temple-Fort Hood MSA.
HFF exclusively represented the seller, Direct Development, and procured the buyer, Cole Credit Property Trust IV, Inc. (CCPT IV). HFF also arranged financing for the buyer through BofA Merrill Lynch.
Completed in 2007, Market Heights is anchored by national tenants including Ross Dress For Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark, Old Navy, ULTA and Petco. The property, shadow-anchored by Target, is situated on 80 acres at 201 East Central Expressway along State Highway 190 near Fort Hood and in central Texas.
The HFF investment sales team representing the seller was led by senior managing directors Doug Hazelbaker, Jim Batjer and Barry Brown and managing director Ryan Shore.
HFF’s debt placement team was led by senior managing director Kevin MacKenzie and director Adam Herrin.
“We are very happy to consummate this transaction with CCPT IV. The closing process was nearly flawless and the team at Cole proved to be exceptional to work with,” said David Watson of Direct Development.
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.