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Wednesday, August 12, 2020
CCBP Fort Worth firm sells two area office buildings

Fort Worth firm sells two area office buildings

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

Klabzuba Realty, the real estate arm of Fort Worth’s Klabzuba Oil & Gas Inc., has sold two area Class—A office buildings.

Klabzuba sold The Meridian, a six-story, 100,359-square-foot building at 1425 Greeway Drive in Las Colinas, which is 90 percent leased. It also sold The Belvedere, a nine-story, 141,180-square-foot building at 14881 Drive in Addison that is about 80 percent leased. Terms of the transaction were not disclosed.

Holliday Fenoglio Fowler L.P. (HFF) closed the sale of and arranged acquisition financing for the sale that it announced Monday.

HFF marketed the properties on behalf of the seller, Klabzuba Realty. CREA Investments purchased the two buildings for an undisclosed amount free and clear of debt. Additionally, HFF secured floating-rate acquisition financing on behalf of the new owner through a regional bank.

“These transactions represent successful round trips that generated attractive returns to our investors,” said Klabzuba Executive Vice President Clint Corn. “We remain committed to proactively recycling our capital into urban infill opportunities in major Texas markets.”

Klabzuba Realty owns real estate throughout Texas and other states with over one million square feet of rentable space.

www.klabzuba.com

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