HFF announces construction financing for mixed-use project in downtown Houston
HOUSTON, TX – February 5, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the construction financing for Lyric Market, a to-be-built 31,500-square-foot food-hall concept and 801-space parking garage in downtown Houston, Texas.
The HFF team worked on behalf of the borrower, a private investor, to secure the construction loan with Origin Bank.
Set to open in fall 2018, Lyric Market’s ground-floor retail will house a food hall featuring chef-driven restaurant concepts, including a bakery, sushi bar, ice cream shop and wine and cocktail bars. The market will also feature a plaza with tables, second-story terrace café available for events up to 400 guests and a private speakeasy-inspired concept. The 10-story structured parking garage will be adorned in LED-lit panels for evening light shows. Designated a “Walker’s Paradise” with a Walk Score® of 95, the property sits at the southwest corner of Louisiana and Preston Streets and is blocks from Houston Grand Opera, Jones Hall for the Performing Arts, Market Square Park, Houston Ballet, 800 nearby luxury apartment units and more than 1.5 million square feet of office space. The project is replacing the 125-space existing surface parking lot adjacent to the Lyric Centre office building.
The HFF debt placement team representing the borrower included director Matthew Putterman. Joe Cox, senior vice president at Origin Bank, represented the lender.
About Origin Bank
Founded in 1912, Origin Bank has over $4 billion in assets and 41 banking centers across Texas, Louisiana and Mississippi, including 10 locations in Houston. For more information, please visit origin.bank.
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.