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Joint venture equity arranged by HFF for recapitalization of River Oaks District in Houston, Texas

06/23/2016

DALLAS, TX – June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged joint venture equity for the recapitalization of River Oaks District, a 650,000-square-foot, luxury mixed-use development in Houston, Texas.

HFF worked exclusively on behalf of the developer, OliverMcMillan and its equity partner, to arrange joint venture equity for the recapitalization of the property from institutional investors advised by J.P. Morgan Asset Management.  HFF previously arranged construction financing on behalf of the developer in 2013.

Completed in late 2015, River Oaks District is on the northeast corner of Westheimer Road and Westcreek Lane in Houston’s Inner Loop (Interstate 610).  Situated on 14.5 acres, the property is adjacent to the Galleria office and retail district and River Oaks neighborhood, which is the city’s most exclusive residential area.  The luxury project encompasses 302,000 square feet of retail, fine dining and entertainment space leased to high-end tenants, including Hermès, Cartier, Dior, Chopard, Tom Ford, Patek Philippe at deBoulle, Dolce & Gabbana, Harry Winston, Diptyque, Bruno Cucinelli, iPic Theaters, Equinox, Flow Juice Bar, Hopdoddy Burger Bar, Le Colonial, Steak 48, Taverna and Toulouse Café and Bar.  The project is also home to 66,000 square feet of state-of-the-art boutique office space and the Grey House at River Oaks District, a 279-unit, two-building contemporary residential community.  Visually inspired by the grey hues used in the design of Renzo Piano’s renowned Menil Collection building in Houston’s Museum District, Grey House features luxury finishes and amenities, including two lap pools, fitness center, yoga room, clubhouse, screening rooms, conference room and concierge service.

The HFF equity placement team representing the developer was led by senior managing director Trey Morsbach and director Bill Fishel.

About River Oaks District
Opening in 2015, River Oaks District is a curated collection of luxury and best-in-class retail, dining, entertainment and living amenities set in a sophisticated open-air environment.  From world-class brands with iconic storefronts to upscale restaurants and luxury entertainment, River Oaks District is a shopping and dining destination like none other.  Stroll the walkable, tree-lined streets and plaza with a magnificent canopy of mature oak trees and lush landscaping.  Dine alfresco at artisan cafes and bistros or relax and unwind at the full-service spa and wellness center.  The cosmopolitan streetscape creates an experience that evokes great worldwide cities while remaining authentic to its Texas roots.  www.riveroaksdistrict.com

About OliverMcMillan
Founded in 1978, OliverMcMillan has earned a reputation as one of the largest and most forward-thinking commercial real estate developers.  The award-winning firm creates high-quality, artistic, market-appropriate developments and is recognized by industry leaders for its ability to move forward in a nimble and visionary manner.  The firm has designed and developed more than eight million square feet of projects, with a total project value exceeding $3 billion.  OliverMcMillan currently has approximately $3 billion in real estate projects under development in cities across the United States, including Houston, San Diego, Honolulu, Atlanta, Dallas, Phoenix, and Nashville.  Approaching each project with respect for the surrounding architecture and local culture, the firm works to create vibrant, enduring destinations.  For additional information about OliverMcMillan, please visit www.olivermcmillan.com.

About J.P. Morgan Asset Management 
J.P. Morgan Asset Management – Global Real Assets has more than $90 billion in assets under management and more than 400 professionals in 19 offices throughout the Americas, Europe and Asia Pacific, as of March 31, 2016.  With a 45-plus year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure and transportation strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.  For more information, please visit am.jpmorgan.com/us/institutional/investment-strategies/alternatives-global-real-assets.

About HFF
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.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.   

Source

HFF

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