Recently Completed Dallas-Area Office Building Lands Refi

Billingsley Co. will use the 15-year refinancing loan, provided by Lincoln Financial Group and secured by HFF, to take out the construction loan.
9111 Cypress Waters Blvd. in Coppell, Texas
9111 Cypress Waters Blvd. in Coppell, Texas

Working on behalf of the Billingsley Co., HFF has secured a $32.4 million refinancing of a recently completed 223,319-square-foot office building in Coppell, Texas, according to Yardi Matrix data. The 15-year term loan, provided by Lincoln Financial Group, will be used to take out the construction loan.

The four-story property is located at 9111 Cypress Waters Blvd., within the 1,000-acre Cypress Waters master-planned development, less than two miles from Interstate 635 and roughly eight miles from DFW International Airport. Delivered last year, the building offers convenient access to multiple bus stations, restaurants, hotels and shopping centers, including Newk’s Eatery, Element Dallas Fort Worth Airport North and MacArthur Marketplace. The property features an on-site conference center and more than 1,300 parking spaces.

HFF Managing Director Trey Morsbach and Senior Director Jim Curtin represented the borrower. Earlier this year, Curtin was also part of the debt placement team that arranged a four-year construction loan for Platte Fifteen, a 150,000-square-foot Denver mixed-use project.

Image courtesy of Yardi Matrix