Summit Office Park
A. Lee Graham
Holliday Fenoglio Fowler LP has closed on the sale and arranged financing for Summit Office Park in Fort Worth.
The firm marketed the two-building, 242,482-square-foot Class A office complex on behalf of the seller, Prescott Group.
Pennybacker Capital purchased the asset, and Holliday Fenoglio Fowler assisted in securing acquisition financing on behalf of the buyer. Providing the loan was ViewPoint Bank.
Summit Office Park stands north of Interstate 30 just west of downtown Fort Worth. Its eight-story buildings, located at 1200 and 1300 Summit Avenue, are 95 percent leased and have 120,396 square feet and 122,086 square feet, respectively.
Leading Holliday Fenoglio Fowler’s debt placement team were Travis Anderson, senior managing director; and Steve Heldenfels, managing director.
Prescott Group is a Dallas-based investment company focusing on real estate assets and debt. Pennybacker Capital is a real estate private equity firm based in Austin.
Holliday Fenoglio Fowler LP and HFF Securities LP are owned by HFF Inc., which operates out of 23 offices nationwide and provides commercial real estate and capital markets services to the U.S. commercial real estate industry. More information is available at hfflp.com.