{"id":1004184708,"date":"2017-07-21T02:52:13","date_gmt":"2017-07-21T10:52:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004184708"},"modified":"2022-12-08T21:12:07","modified_gmt":"2022-12-09T05:12:07","slug":"billingsley-lands-110m-in-dallas-office-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/billingsley-lands-110m-in-dallas-office-refi\/","title":{"rendered":"Billingsley Lands $110M in Dallas Office Refi"},"content":{"rendered":"

By Gail Kalinoski<\/p>\n

\"International<\/a>

International Business Park III<\/p><\/div>\n

Dallas-based Billingsley Co. has refinanced a seven-building office portfolio totaling 801,153 square feet at the International Business Park located in\u00a0Plano and Carrollton, Texas, through a $110 million loan secured by HFF. The company\u00a0arranged the three-year, floating-rate, non-recourse loan with two one-year extension options through Ares Commercial Real Estate Corp.<\/p>\n

Proceeds of the loan will be used to refinance the existing debt and fully stabilize the property. The new financing replaces a $102.5 million CMBS loan placed Oct. 1, 2007, through Wells Fargo Bank that was originated by Bank of America and was due to mature in October of this year, according to Yardi Matrix data.<\/p>\n

Like the original financing, the new loan covers the following properties within the 50-acre park: 4000, 4120, 4100, 6400, 6404, 6500 and 6504 International Parkway. The two-story and three-story buildings were built between 1996 and 2002 and range in size from 99,804 square feet to 154,298 square feet, Yardi Matrix data shows.<\/p>\n

Dallas-Fort Worth Region<\/strong><\/p>\n

Located in the Platinum Corridor North submarket of North Dallas, the buildings are situated near the two of the busiest highways in the Dallas-Fort Worth area, the Dallas North Tollway and the President George Bush Turnpike.<\/p>\n

\"International<\/a>

International Business Park IV<\/p><\/div>\n

The portfolio is 87 percent leased and includes 24-hour security, on-site management and maintenance, a health club, caf\u00e9, gas grills for corporate and campus events and green spaces.<\/p>\n

Senior Managing Director Trey Morsbach and Senior Director Jim Curtin led the HFF debt placement team that secured the loan for\u00a0International Business Park.<\/p>\n

Billingsley and HFF have teamed up frequently on financing\u00a0transactions in the Dallas-Fort Worth area for Billingsley-owned properties. In February 2016, HFF secured a two-year construction loan for the development of a Class A office building within the Cypress Waters master-planned community<\/a>. The CoreLogic build-to-suit fixed-construction\/perm loan from Regions Bank marked the fourth financing HFF has secured for Billingsley between 2015 and early 2016, according to previous\u00a0Commercial Property Executive<\/em> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"

HFF secured the three-year loan through Ares Commercial Real Estate Corp. The seven buildings are located in Plano and Carrollton.<\/p>\n","protected":false},"author":1068,"featured_media":1004506006,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21808,21825,21742,21747],"tags":[34157,36887,36886],"class_list":["post-1004184708","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-featured","category-finance","category-latest","category-office","tag-billingsley-company","tag-jim-curtin","tag-trey-morsbach"],"acf":[],"yoast_head":"\nBillingsley Lands $110M in Dallas Office Refi - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/billingsley-lands-110m-in-dallas-office-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Billingsley Lands $110M in Dallas Office Refi\" \/>\n<meta property=\"og:description\" content=\"HFF secured the three-year loan through Ares Commercial Real Estate Corp. The seven buildings are located in Plano and Carrollton.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/billingsley-lands-110m-in-dallas-office-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-21T10:52:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:12:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/International-Business-Park-III.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"Billingsley Lands $110M in Dallas Office Refi\",\"datePublished\":\"2017-07-21T10:52:13+00:00\",\"dateModified\":\"2022-12-09T05:12:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/\"},\"wordCount\":334,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/International-Business-Park-III.jpg\",\"keywords\":[\"Billingsley Company\",\"Jim Curtin\",\"Trey Morsbach\"],\"articleSection\":[\"Dallas\",\"Featured\",\"Finance\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/billingsley-lands-110m-in-dallas-office-refi\\\/\",\"name\":\"Billingsley Lands $110M in Dallas Office Refi - 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