$114.4 Million Construction Loan Arranged by HFF for The Tower Residences at the Ritz-Carlton in Dallas.

DALLAS -- The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a $114.4 million, non-recourse construction loan for The Tower Residences at the Ritz-Carlton, which is Phase II of the Ritz-Carlton luxury hotel and condominium development in Dallas, Texas.

HFF executive managing director Scott Galloway, senior managing director Trey Morsbach and associate director John Ahmed worked exclusively on behalf of Crescent Real Estate Equities to secure the 36-month, adjustable-rate loan through Societe Generale.

Upon completion in 2009, this second phase of The Tower Residences at the Ritz-Carlton will consist of a 23-floor tower with 96 units and four exclusive townhomes set apart from the tower by a central courtyard. The tower will be connected to The Residences at the Ritz-Carlton via a climate-controlled skybridge and will have its own underground parking garage and amenity package, including a pool, wine storage and tasting room, fitness center, meeting space and hotel service amenities. The Tower Residences at the Ritz-Carlton is located at 2121 McKinney Avenue, close to the central business district, the Arts District, Victory Park and the Uptown area of Dallas.

Crescent Real Estate Equities LLC is headquartered in Fort Worth, Texas. Through its subsidiaries and joint ventures, Crescent owns and manages a portfolio of 54 premier office buildings totaling 23 million square feet located in select markets across the United States with major concentrations in Dallas, Houston, Denver, Miami and Las Vegas. Crescent also holds investments in resort residential developments in locations such as Scottsdale, Arizona; Vail Valley, Colorado; and Lake Tahoe, California and in the wellness lifestyle leader, Canyon Ranch[R].

HFF (NYSE:HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.