Holliday Fenoglio Fowler, L.P. (HFF) announces debt and equity financing for Tower IV, a 326,625-square-foot, Class A office tower to be built in Raleigh, North Carolina.
The HFF team worked on behalf of the borrower, Kane Realty Corporation, in a joint venture partnership with Lionstone Investments, to secure the construction loan through Bank OZK.
Currently under construction and due for completion in 2020, Tower IV will be a best-in-class, 18-story tower with 8,234 square feet of ground floor retail as well as an eight-story, 880-space parking deck. The 326,625 square feet of office space located throughout 12 floors will feature typical floorplates of 30,014 square feet and is already considerably preleased. The project is located within North Hills, a flourishing development in midtown Raleigh that offers a unique combination of places to live, work, shop, play and stay, and is easily accessible from Interstate 440 as a regional destination. Additionally, it is a short drive from the Triangle area’s other demand drivers, including the Research Triangle Park, Cary, Chapel Hill, downtown Raleigh and Durham.
The HFF debt placement team representing the borrower included senior managing director Travis Anderson, senior director Roger Edwards, and associate John Gavigan.
About Kane Realty Corporation
Kane Realty Corporation is a vertically integrated commercial real estate firm providing development, construction management, leasing, and property management services. Founded in 1978, Kane Realty is the preeminent mixed-use developer in North Carolina, developing over 6.5 million square feet since inception. Kane’s signature mixed-use property at North Hills (Raleigh, North Carolina), the first true mixed-use property in the region, resulted in the emergence of Raleigh’s Midtown district.
About Lionstone Investments
Lionstone Investments is a data-analytics driven real estate investment firm that conceptualizes, analyzes, and executes national investment strategies using proprietary algorithms and advanced analytics to understand the changing ways people in America want to live and work – Places for Productive People®. Lionstone Investments is a registered investment adviser subsidiary of Columbia Management Investment Advisers, LLC. For more information, please visit www.lionstoneinvestments.com.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter@HFF.
