9/28/2007

GE finances purchase of Fort Worth office park

by

Summit Office Park

Prescott Realty Group has acquired the Summit Office Park in Fort Worth, Texas, with a $21 million loan from GE Real Estate that includes $5.6 million for renovation and leasing costs.

Andy Scott and Steve Heldenfels of Holliday Fenoglio Fowler were the mortgage brokers.

George Duncan with The Staubach Company and J. David Cason with Centra brokered the deal.

The office park contains two eight-story buildings totaling 241,250 square feet on nine acres. The park is located at 1200 and 1300 Summit Ave., includes a three-story parking garage and is 93 percent leased to 51 tenants.

Prescott Realty Group is a Dallas-based, full-service commercial real estate investment, development and operating company. The Staubach Company represents users of office space, retail space and industrial space.

Holliday Fenoglio Fowler is a mortgage banking firm offering debt placement, equity, structured financing, property sales and loan servicing.

Address: 1200 and 1300 Summit Ave., Forth Worth, Texas

Size: 241,250 square feet

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Filed Under: Office

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