HFF Arranges Financing for Two Houston-Area Assets
- Apr 17, 2015
HFF has kept busy in Houston this month. The Pittsburgh-based company recently announced that it has secured refinancing for One City Centre, a 608,660-square-foot office tower and two parking garages in Houston, and that it has obtained a $6.2 million mezzanine loan for Kings Landing, a Class A multi-housing community in Kingwood, Texas.
The One City Centre office tower is located at 1021 Main St. in downtown Houston and has direct access to the Metro Light Rail line and tunnel system. It was built in 1961 and renovated in 2010, when it received its LEED EB Gold certification. The asset was acquired by Hallandale Beach, Fla.-based Accesso Partners L.L.C. in 2012.
HFF acted on behalf of the borrower, Accesso, and negotiated a 10-year, fixed-rate loan through J.P. Morgan Chase Bank, N.A. According to an official press statement, the proceeds will be used to retire the company’s acquisition debt.
HFF also obtained a mezzanine loan for Mark-Dana Corp., which is developing Kings Landing, a 327-unit multifamily community located at 331 Forest Center Drive in Kingwood. The project is slated for completion in 2016 and consists of 12 two- and three-story buildings.
While HFF was involved in the acquisition of One City Centre in 2012 as well as in prior trades in 2007 and 2008, the firm was not involved in obtaining the senior loan for Kings Landing, which was handled by Amegy Bank.