M-M Properties and Invesco Real Estate Acquire Plaza of the Americas

DALLAS, Dec. 23, 2011 /PRNewswire/ --  M-M Properties, in partnership with an institutional client of Dallas-based Invesco Real Estate, today announces they have acquired Plaza of the Americas, a 1.2 million square foot complex in the northeastern quadrant of Dallas' central business district (CBD). The Dallas office of HFF exclusively represented the seller in the sale of the property and also acted on behalf of the purchaser in placing acquisition financing on the transaction.

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"We are pleased to acquire Plaza of the Americas," said Ken Moczulski, CEO of M-M Properties. "We believe Dallas' CBD is turning the corner with the recent additions to the Arts District and the soon to be completed Woodall Rogers Deck Park.  Pearl Street is one of Dallas' premier addresses and with strong local ownership in place and plans to renovate, reposition and rebrand the property Plaza of the Americas will offer tremendous value to our tenants."

Plaza of the Americas was developed in 1980 and contains more than 1.2 million square feet.  The complex includes two, 25-story office towers, a 12-story parking garage and Marriott Hotel (separately owned) all connected by a 13-story atrium that contains more than 140,000 square feet of retail and restaurants.  The property is located in the northeast quadrant of the CBD, adjacent to the Dallas Arts District and the Pearl Street light rail station and two blocks south of Woodall Rodgers Park.

Peloton Commercial Real Estate has been retained as the exclusive leasing agent for the property with property management services provided by M-M Properties.

About M-M Properties:

M-M Properties is a privately held real estate investment firm whose senior management team enjoys long tenure together with experience spanning both public and private platforms including large development firms, private family offices, REITs, and real estate private equity firms. The company or its principals have extensive transactional and ownership history with institutional investment partners and have engaged in real estate investment activities on behalf of investors, partners or for its own account across a portfolio of assets that has included over 30 million square feet of office projects and almost 17,000 multifamily units with a cumulative transaction volume of approximately $8.5 billion.

M-M Properties' current assets under management total over $600 million in separate joint-ventures with several institutional partners. With the addition of Plaza of the Americas, M-M Properties will own and manage over 3 million square feet of high-rise CBD office properties in Dallas and Houston, as well as several multifamily development projects in Houston and other markets. In addition to Ken Moczulski, founder and CEO of M-M Properties, the senior management team includes Jarrett Minton with responsibility for capital markets and Bill McFarland with responsibility for asset management. For additional information please refer to www.mmprop.com.

About Invesco Real Estate:

Established in 1983, Invesco Real Estate manages $43.7 billion of real estate investments, which includes $15.4 billion in U.S. direct real estate portfolios, $10.5 billion in non-US direct real estate and $17.8 billion in real estate securities (as of September 30, 2011). Headquartered in Dallas, Invesco Real Estate has more than 320 employees in 16 offices through the U.S., Europe and Asia.  The group focuses on top-down market and property type fundamentals combined with bottom-up local market intelligence. Senior members of the management team have worked together for 23 years, contributing to the consistent implementation of Invesco's investment strategy.

Invesco Real Estate is a unit of Invesco Ltd., a leading independent global investment manager, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our retail, institutional and high net worth clients around the world. Operating in more than 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com and at www.invescorealestate.com.

About HFF:

Holliday Fenoglio Fowler, LP ("HFF") and HFF Securities LP ("HFFS") are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.

SOURCE Invesco