Highland Park Village Owners Obtain $225M Refi

Owners of the historic Highland Park Village Shopping Center in Dallas refinanced the property at Preston Road and Mockingbird Lane to the tune of $225 million. Teachers Insurance and Annuity Association of America (TIAA) made the loan on the 10-acre retail center.

HFF represented the owner, HP Village Partners LP, in obtaining the long-term, fixed-rate loan with TIAA’s investment management arm, TH Real Estate, an investment affiliate of Nuveen. HFF will also service the loan.

Highland Park Village, built in 1931, was one of America’s first shopping centers. These days, the retail asset has some of the most exclusive retailers in the state, as well as some of the highest rents. According to HP Village Partners’ president, Ray Washburne, the financing is being used to “provide us with the capital necessary to invest in our property for decades to come.”

For comments, questions or concerns, please contact Amy Sorter