Joint venture equity for self storage development near Houston, Texas, arranged by HFF
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged joint venture equity for the development of a Class A, 851-unit, self storage facility within The Vintage master-planned community in the Houston suburb of Spring, Texas.
HFF worked on behalf of the development manager, Vintage Hannah One, LLC, to arrange a joint venture equity partnership with an unnamed partner.
Scheduled for completion in the later part of 2016, the self storage project will consist of four buildings totaling 82,675 rentable square feet. Situated on 5.8 acres at 15500 Vintage Preserve Parkway, the storage facility site is located in The Vintage, a 630-acre, master-planned community with restaurants, residences, shopping, healthcare facilities, hotel, seniors housing, lakes and an 80-acre nature preserve, in Spring.
The HFF self storage team representing the development manager was led by director Barbara Guffey.
“The location within The Vintage mixed-use development, along with the strong demographics and numerous rooftops in the immediate vicinity, makes it ideal for a new self storage project,” Guffey said. “The new state-of-the-art facility will be one of few self storage projects built in the area within the last decade.”
About Vintage Hannah One, LLC
Vintage Hannah One, LLC is a partnership between co-development managers Joel DeSpain and Robert Wheless. Each has over thirty years of experience in the commercial real estate industry, and they have worked together as a team to develop ten projects totaling $280 million in the Houston market. Those projects included three office buildings, one industrial, five multifamily joint ventures, and one retail power center.
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.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.