HFF Arranges Sale, Financing of Office Portfolio in Metro Dallas
DALLAS AND ADDISON, TEXAS — HFF has arranged the sale and financing of a three-building office portfolio totaling 465,703 square feet in Addison. HFF marketed the property on behalf of the seller, Harbert Management Corp. DRA Advisors LLC purchased the asset for an undisclosed price. HFF assisted DRA in securing three separate three-year, floating-rate loans through OneWest Bank. The portfolio includes 5000 Quorum Drive in Dallas and Quorum Place and Quorum North in Addison. Situated on nearly five acres between the Dallas North Tollway and Inwood Road, the 165,434-square-foot 5000 Quorum has seven stories and is 77 percent leased. At nine stories and 181,737 square feet, Quorum Place is the largest of the three in the portfolio. The 78.2-percent-leased building is situated on 5.4 acres at 14901 Quorum Drive in Addison. Quorum North, located at 13201 Spectrum Drive in Addison, is situated on 2.8 acres northeast of the other two properties in the portfolio. At 118,532 square feet, the five-story, 75.7-percent-leased office building is the smallest in the portfolio. Colby Mueck, Matt Kafka, Steve Heldenfels and Sarah Baccich led HFF’s debt placement team.