Acquisition financing secured by HFF for newly-built apartment community in suburban Houston
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured acquisition financing for Haven at Westgreen, a newly-built, 225-unit, Class A apartment community in Katy, Texas.
HFF worked exclusively on behalf of the borrower, a joint venture between co-general partners CAF Capital Partners, The Rainier Companies and an unnamed party, to place the three-year, floating-rate bridge loan with PCCP, LLC.
Haven at Westgreen is situated at 510 Westgreen Boulevard immediately south of Interstate 10 within the epicenter of the Katy area’s growth. The property’s location offers convenient access to Houston’s Energy Corridor. Completed earlier this year and currently in lease-up, the gated community has one- and two-bedroom units ranging from 634 square feet to 1,274 square feet. Community amenities include a resort-style swimming pool, poolside grill stations, fire pit, 24-hour fitness facility, resident lounge, conference room and detached garages.
The HFF debt placement team representing the borrower was led by director Cortney Cole.
About CAF Capital Partners
CAF Capital Partners is a Dallas-based, vertically integrated, private equity real estate firm specializing in the acquisition, redevelopment and repositioning of institutional-quality multifamily real estate. The firm currently owns and operates properties in Dallas/Fort Worth and Houston with plans to expand into other major MSAs in the southeast and southwest United States.
About The Rainier Companies
The Rainier Companies is located in Dallas, Texas and actively pursues commercial real estate investment acquisitions and provides financing and asset management services to the commercial real estate industry nationwide. Founded in 2003, Rainier has more than $1.8 billion of investment assets under management for individual, corporate and institutional investment partners.
About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has approximately $5.5 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $10.5 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.
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.