DALLAS — HFF has arranged $100 million in acquisition financing for Tower at Cityplace, a 1.3 million-square-foot, Class A office skyscraper near downtown Dallas.
Florida-based Parmenter Realty Partners acquired the 42-story office tower, which is located at 2711 N. Haskell Ave. in the Uptown District of Dallas.
HFF secured the loan for the purchase through GE Capital Real Estate. Parmenter will use the loan to acquire the building and fund future leasing and capital expenditures.
The 45-story tower is 69 percent leased to tenants including Dean Foods, Lone Star/Hudson Advisors, AON Service Corp. and Headington Oil. The property features a 35,000-square-foot Larry North Fitness Center and Spa, 55,000 square feet of meeting room space, a 300-seat amphitheater, several dining options and direct access to the DART rail and McKinney Avenue Trolley service.
New York-based Cossutta & Associates designed the building to be the corporate headquarters for Southland Corp. (now 7-Eleven), according to the Dallas Business Journal. The company constructed the skyscraper in 1988 at a cost of more than $300 million.
John Brownlee, senior managing director, and Jim Curtin, associate director, led the HFF team representing Parmenter in the transaction.
Parmenter Realty Partners is a real estate investment, management and development company headquartered in Miami, with regional offices in Dallas, Atlanta and Washington, D.C. The company operates a series of institutional investment funds focused on the Southeast, Southwest and Washington, D.C. regions of the United States.