1300-A Bay Area Boulevard Receives $1.5 Million Financing Arranged by Holliday Fenoglio Fowler.

Business Editors

HOUSTON--(BUSINESS WIRE)--Sept. 4, 2002

The Houston office of Holliday Fenoglio Fowler, the nation's leading commercial mortgage banking firm, arranged a $1.5 million financing for 1300-A Bay Area Boulevard, a 34,873-square-foot, two-story office building located in Houston, Texas.

Associate Director Jeff Knowles arranged the ten-year, fixed-rate refinancing on behalf of 1300 Bay Area Venture, a Texas joint venture, through The Ohio National Life Insurance Company, a life company lender.

Built in 1968, 1300-A Bay Area Boulevard is located at the southeast corner of Saturn Lane and Bay Area Boulevard in Houston, approximately 25 miles southeast of Houston's Central Business District. It is also just minutes from IH-45, the most heavily traveled artery between the Central Business District and the outlying south Houston submarkets. The property is leased to The United Way of the Texas Gulf Coast, which recently signed a 10-year lease renewal. In connection with this lease renewal, the owner completed a substantial renovation of the building including a new HVAC system, roof and parking lot, as well as upgrades to the interior design and the electrical system.

"This property presented a challenge in that single-tenant properties can often be difficult to finance," said Knowles. "In this particular instance the tenant has a long history in the building, and recently committed to a new long-term lease, making the deal much more appealing to investors."

With 19 offices nationwide, Holliday Fenoglio Fowler is one of the country's largest capital intermediaries. 2001 was a record-breaking year for the firm, with more than $12.2 billion in business volume. Since 1998, the firm's debt, equity/structured finance and investment sales transactions have totaled more than $52.5 billion.