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Friday, April 16, 2021

Key projects in Arlington, Fort Worth gain financing

Arlington’s planned 101 Center, a key part of the city’s downtown revitalization plans, has received the capital needed to move the project forward.

Holliday Fenoglio Fowler, L.P. (HFF) announced Dec. 3 that the firm helped secure capital for the development of 101 Center, an upscale, urban mixed-use project being developed by Dallas’ Catalyst Urban Development and LandPlan Development.

Due for completion in June 2017, 101 Center is the initial phase of Arlington City Center, a downtown core redevelopment project that includes a new central library, city council chambers, public plaza and private mixed-use development, all set within new urban streetscapes. The 2.35-acre site is located at 101 S. Center Street, across from Arlington City Hall and approximately two blocks north of the University of Texas at Arlington campus. The property will have 244 residential units in various housing categories and will include “live-work-play” spaces at street level and approximately 18,500 square feet of ground-floor retail. This project is being completed in partnership with the City of Arlington and includes a public/private parking garage.

The HFF team representing the developer was led by associate director Jeremy Sain.

HFF announced Dec. 2 it has arranged a $73.5 million construction loan for the development of Frost Tower Fort Worth, a 278,000-square-foot, Class AA office tower in downtown Fort Worth.

HFF worked on behalf of the borrower, Anthracite Realty Partners, an affiliate of Jetta Operating Compan, Inc., to secure the three-year, floating-rate loan through Bank of the Ozarks.

Set for completion in December 2017, Frost Tower Fort Worth will be a 25-story tower with ground floor retail and more than 900 above and below grade parking spaces. Frost Bank will be the anchor tenant and Jetta Operating Company will move its corporate headquarters to the new building making Frost Tower Fort Worth 56 percent preleased. Project amenities will include a sky lobby on the 12th floor that will feature views of downtown, high-tech C-level suites for senior executives, a fitness facility, café and outdoor terraces. Conference facilities will be available in a variety of sizes with multiple breakout and gathering areas. The development site is situated on three quarters of a city block, at Taylor and 5th Streets, adjacent to Sundance Square in downtown Fort Worth. Nearby cultural attractions include Bass Performance Hall, the Cultural Arts District, West Seventh and the Fort Worth Stockyards.

Architect for the project is Bennett Benner Partners and Dallas-based Balfour Beatty Construction will do the pre-construction and construction work.

HFF’s debt placement team was led by senior managing director Trey Morsbach and director Cullen Aderhold.

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