Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing for WestRidge at La Cantera, a two-building, Class A office campus totaling 258,031 square feet in San Antonio, Texas.
The HFF team marketed the property on behalf of the seller, USAA Real Estate. Preferred Office Properties, an indirect wholly-owned subsidiary of Preferred Apartment Communities, Inc., purchased the assets for an undisclosed amount. Additionally, working on behalf of the new owner, the HFF team placed the 11-year, 4.10 percent, fixed-rate acquisition loan with Allianz Real Estate of America, LLC.
WestRidge at La Cantera comprises WestRidge One and WestRidge Two, which are located at 15955 and 15935 La Cantera Parkway in the Northwest submarket of San Antonio. The properties are situated on 22 acres within the larger 1.3-million-square-foot La Cantera mixed-use development featuring premier shopping, dining and hotel space nestled on 150 acres of scenic hill country terrain. This location is proximate to two of San Antonio’s main thoroughfares, Interstate 10 and Loop 1604, which provide access to some of San Antonio’s most coveted neighborhoods, including The Dominion, Stone Oak, Fair Oaks Ranch and Cross Mountain. Recently delivered, WestRidge at La Cantera features floor-to-ceiling glass windows, marble flooring, ample meeting space, covered parking and best-in-class cafeterias. The properties are fully leased to USAA and Harland Clarke Holdings.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
About USAA Real Estate
USAA Real Estate, with over $18 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multi-family, retail and hotel properties. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit usrealco.com.
About Preferred Office Properties
Preferred Office Properties, LLC is a Maryland limited liability company and an indirect wholly-owned subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS), a real estate investment trust primarily involved in the ownership and management of multifamily properties across the United States. Preferred Office Properties was formed in 2016 to invest in high quality Class “A” office assets through acquisitions of operating properties and strategic, structured participation in new development.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.