HFF arranges $65 million financing for high-end mixed-use property in Houston, Texas
HOUSTON, TX – March 13, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $65 million in interim financing for the 307,509-square-foot retail component of CityCentre, a premier mixed-use urban development in Houston, Texas.
HFF worked on behalf of the borrower, a partnership between Midway and L&B Realty Advisors, to secure financing through JPMorgan and First Tennessee Bank.
Originally developed by the borrower in 2007, CityCentre comprises retail, office, hotel and residential space surrounded by European-style, open-air plazas and green spaces. The retail component is a shopping and entertainment destination lifestyle center that is leased to a variety of high-end national and regional retailers and restaurants, including Studio Movie Grill, west elm, Sur La Table, Eddie V’s, BRIO Tuscan Grille, Charming Charlie, H&M, Urban Outfitters and Anthropologie. Located at 800 Town and Country Boulevard, CityCentre is at the southeastern corner of Interstate 10 and Beltway 8 near Houston’s Energy Corridor. CityCentre is located in one of the wealthiest ZIP codes in Texas, as more than 10,800 residents earning an average annual household income of more than $169,800 live within a one-mile radius of the property.
The HFF debt placement team representing the borrower was led by executive managing director Scott Galloway and managing director Colby Mueck.
Midway’s purpose is to create enduring investments and remarkable places that enrich people’s lives. Houston-based Midway is a privately owned, fully integrated real estate investment and development firm that has provided the highest level of quality, service and value to its clients and investors for more than 49 years. The Midway portfolio of projects completed and/or underway consists of approximately 45 million square feet of properties in 23 states and Northern Mexico ranging from office and industrial facilities, corporate headquarters, mixed-use centers, business and industrial parks, medical facilities, manufacturing facilities, and master-planned resort and residential communities. For more information on Midway, visit midwaycompanies.com.
About L&B Realty Advisors
L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor. Since 1965, L&B has provided real estate investment management services to institutional investors and family offices. With over $8 billion under management and over 50 years’ experience, L&B has a proven track record of successfully acquiring, managing and disposing real estate on behalf of its clients. For more information, visit lbrealty.com.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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 sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.