DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured capital for the development of 101 Center, an upscale, urban mixed-use property in downtown Arlington, Texas.
HFF worked on behalf of a joint venture between Catalyst Urban Development and LandPlan Development to secure first mortgage construction financing through Bank of the Ozarks and equity through Canyon Partners Real Estate LLC.
Due for completion in June 2017, 101 Center is the initial phase of Arlington City Center, a downtown core redevelopment project that includes a new central library, city council chambers, public plaza and private mixed-use development, all set within new urban streetscapes. The 2.35-acre site is located at 101 S. Center Street, across from Arlington City Hall and approximately two blocks north of the University of Texas at Arlington campus, which has grown to more than 47,000 students and 1,500 faculty members. The property will have 244 residential units in various housing categories and will include “live-work-play” spaces at street level and approximately 18,500 square feet of ground-floor retail. This project is being completed in partnership with the City of Arlington and includes a public/private parking garage.
The HFF team representing the developer was led by associate director Jeremy Sain.
About Catalyst Urban Development: Catalyst Urban Development (Catalyst) is a Dallas-based commercial real estate firm focused on planning, development, finance and investment with a diverse portfolio of experience. Led by Paris Rutherford and Rhys Heinsch, Catalyst is currently developing more than $240 million in urban housing, mixed-use and transit-oriented projects. Since 2009, Catalyst has collaborated with more than 45 public and private entities, received national and regional awards from NAHB, NDC, APA and NCTCOG, and has procured or facilitated more than $2.3 billion in debt and equity. Please visit www.catalysturban.com for more information.
About LandPlan Development: LandPlan Development (LandPlan) is widely recognized as a development leader in the Dallas/Fort Worth metroplex. Led by Jim Williams, LandPlan’s Dallas-area projects range from 140,000-square-foot hospitals to 1,000-acre, master planned mixed-use communities – all with emphasis on strength in design and location. Throughout its 50-year history in real estate development and investment, LandPlan brings a commitment to quality, diverse team experience and capital investment to its pursuits. Please visit www.landplan.net for more information.
About Canyon Partners Real Estate LLC: Canyon Partners Real Estate LLC (Canyon) is the real estate direct investing arm of Canyon Partners LLC. Canyon focuses on providing debt and equity capital for commercial real estate in primary and secondary markets across the U.S., primarily to facilitate asset acquisition, value-add repositioning, development or recapitalization. Since inception, Canyon has invested more than $5.8 billion of capital in more than 220 commercial real estate and mortgage transactions with a total capitalization of $15.1 billion through its distinct real estate investment platforms.
Founded in 1990, Canyon Partners LLC is an investment management firm headquartered in Los Angeles, which, together with its affiliates, manages more than $23 billion of assets. For more information visit www.canyonpartners.com.
About HFF: HFF 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 offer 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 hfflp.com or follow HFF on Twitter @HFF.