HOUSTON--HFF has arranged $60.74 million in post-closing acquisition financing for Galleria Place, two class A office buildings totaling 401,000 square feet plus a stand-alone retail site across from the Galleria Mall in Houston.

Working on behalf of the borrower, LPC Realty Advisors I LP, an affiliate of Lincoln Property Co., on behalf of a pension fund client, HFF placed the three-year, floating-rate, interest-only loan with ACORE Capital. HFF also arranged the sale of the property earlier in 2015.

Galleria Place consists of Galleria Place I (5251 Westheimer Road), an 11-story, 217,006-square-foot office building; Galleria Place II (5333 Westheimer Road), a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages with 1,361 spaces. Galleria Place is 53 percent leased to tenants including Just Energy and IHS. The properties occupy six acres bounded by Sage and Westheimer roads and West Alabama Street directly across from the Galleria, Houston's premier destination for shopping and dining.

Senior managing director Susan Hill led HFF's debt placement team representing the borrower.

Instant Insights /

HFF Arranges $60M Financing for Galleria Place

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