Fidelis Realty Partners of Houston has acquired a portion of the Rayzor Ranch Marketplace, a 641,000-square foot, fully-leased retail power center in Denton.
The Houston office of commercial real estate firm Holliday Fenoglio Fowler, L.P. (HFF) arranged $32.53 million in acquisition financing for 251,741 square feet of the center. A
HFF worked on behalf of Fidelis Realty Partners, to place the 10-year, fixed-rate loan with Sentinel Asset Management, a national life group company. Additionally, HFF will service the loan.
Built in 2008, Rayzor Ranch Marketplace is located at the northeast corner of Interstate 35 and U.S. Highway 380 and has land adjacent available for development. The purchase excludes the major tenants, Wal-Mart, Sam’s Club and Kohl’s.
The HFF debt placement team was led by director Jim Curtin.