HFF arranges $122m loan for mixed-use property in Texas

WCN Editorial Team 20 Sep 2017 NORTH AMERICA BUILDINGS

Holliday Fenoglio Fowler (HFF) has arranged $121.6m financing for the redevelopment of The Star, a mixed-use residential, retail and storage property located in downtown Houston, Texas.

The HFF team secured the loan on behalf of Provident Realty Advisors on the floating-rate loan through TPG RE Finance Trust.

Once completed, the project will feature 286 luxury multifamily units, over 26,000 sq ft of retail space, 8,000 sq ft of climate-controlled storage and 672 parking spaces.

Bounded by Rusk, Fannin, Capitol and San Jacinto Streets, The Star is located within walking distance to attractions, including Discovery Green, Market Square Park, Minute Maid Park and the Theater District.

The adaptive re-use project incorporates ornate architectural details is across from two of Houston’s newest Class A+ office towers, BG Group Place and 609 Main at Texas.

The property also features a number of community amenities including a resort-style swimming pool, upscale restaurant on premises, social lounge with demonstration kitchen and pool table, modern fitness centre, rooftop sky terrace with outdoor fireplace and gas grills, and 24-hour concierge.

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