$36M Refi Obtained for Heritage Square I & II

Brookwood Financial Partners LLC obtained $35.8 million in short-term, first-mortgage debt to refinance Heritage Square I & II, a two-building, 368,214-square-foot Class A office property in Dallas. Thorofare Capital arranged the 36-month, interest-only financing, which will be used to repay a maturing loan and provide funds for tenant improvements, leasing commissions and capital investment in the buildings at 4835 and 5001 LBJ Fwy. in North Dallas.

Thorofare Capital’s Elliott Young said the appeal rested on the sponsor’s market presence and institutional profile, combined with Dallas’ strong economic growth forecast. “At its low-cost basis, Brookwood will be able to offer prospective tenants quality space at attractive rents,” he said. “The buildings recently underwent renovations, which added a full suite of amenities for tenants, setting it apart from nearby office properties.”

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