$64.2 million refinancing arranged by HFF for Houston Class A office complex
ATLANTA, GA – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a $64.2 million refinancing for Brookhollow Central I, II and III, a three-building, Class A office complex totaling 806,541 square feet in Houston, Texas.
Working on behalf of Parmenter, HFF placed the loan with MetLife Real Estate Investors. The loan is interest-only for the full term and was used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures.
Brookhollow Central I, II and III are located at 2800, 2900 and 2950 North Loop at the intersection of US 290 and Interstate 610 in Houston’s North Loop West submarket. The property is convenient to Houston’s Galleria and Uptown areas as well as Interstate 10, which links the property to Houston’s Energy Corridor, western suburbs and downtown. Substantially renovated between 2006 and 2015, the complex is anchored by the Houston area headquarters of Comerica Bank. . Brookhollow Central I, II and III offers tenants amenities including on-site parking in a 2,882-space parking garage, a fitness center, deli and on-site management.
The HFF debt placement team representing the borrower was led by senior managing directors Ed Coco and Wally Reid.
“The US 290 corridor expansion and improvement project, due for completion in 2017, will further enhance Brookhollow’s excellent freeway access and freeway visibility,” said Coco. “The project includes widening US 290, adding feeder lanes, installing the Hempstead Tollway and reconstructing the US 290/I-10/I-610 interchange, which will provide a new exit off of I-610 for access to Brookhollow.”
Parmenter is a fully integrated real estate investment, management and development firm, headquartered in Miami, Florida, with regional offices in Dallas and Atlanta. The company owns and operates high-quality office properties, and is actively involved in the expansion of its portfolio throughout its targeted markets.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 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, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.