11/28/2007

HFF arranges $22.5M in financing for Dallas office building

by Eric Ramsden

Berkshire at Preston Center

ING Clarion Partners has sold the Berkshire at Preston Center, a Class A office property in Dallas, Texas for $22.5 million to a Chicago-based investment management firm.

Todd Armstrong of Holliday Fenoglio Fowler arranged a 10-year, fixed-rate loan for the buyer through Milwaukee, Wis.-based Northwestern Mutual. Barry Brown and Jim Batjer, also of HFF, handled the negotiations for ING.

The 16-story office building contains 184,794 square feet. Built in 1984, it is currently 95 percent leased to tenants such as Smith Barney, First American Title and Stillwater National Bank.

Address: 5950 Berkshire Lane, Dallas, Texas

Size: 184,794 square feet

Built: 1984

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Filed Under: Office

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