Acquisition financing secured by HFF for luxury apartment tower in downtown Austin
AUSTIN, TX – May 26, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured acquisition financing for The Catherine, a 300-unit, luxury high-rise apartment tower in downtown Austin, Texas.
Working on behalf of the borrower, Catherine Tower, LLC, an affiliate of Austin-based Christopher Investment Company, Inc., HFF placed the seven-year, fixed-rate loan with Prudential Mortgage Capital Company.
The Catherine is situated at 214 Barton Springs Road immediately south of the Colorado River and to the east of Auditorium Shores and The Long Center for Performing Arts. Completed in 2015, the 19-story, LEED-certified tower has studio, one-, two- and three-bedroom units averaging 897 square feet each with amenities, including designer built-in bookshelves, art/media niches, gourmet kitchen islands, stone countertops, stainless appliances, hardwood floors, upscale lighting, solar/black out shades, in-home washers and dryers, wireless sound system and keyless unit entry. The property also features a rooftop sky lounge providing panoramic views of downtown, a bar and private dining room; an infinity-edge swimming pool surrounded by a fire pit, lounge spaces and grilling stations; fully-equipped, poolside fitness center; pet washing station; and hotel-inspired lobby.
The HFF debt placement team was led by senior managing director Doug Opalka.
About Christopher Investment Company, Inc.
Christopher Investment Company, Inc., (CIC) is an Austin-based family company that owns and operates commercial real estate in Texas. CIC was founded based on the following beliefs: Local market leadership delivering success to its clients and tenants; talented, committed people providing outstanding property performance and current market data daily monitored and updated to guide decisions. For more information, visit christophercommercial.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 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.