HFF Facilitates $65M Financing for CityCentre
- Mar 20, 2017
Houston—HFF arranged $65 million in interim financing for the retail component of CityCentre, a mixed-use urban development near Houston’s Energy Corridor. The borrower is a partnership between Midway and L&B Realty Advisors. HFF secured financing through JPMorgan and First Tennessee Bank. Executive Managing Director Scott Galloway and Managing Director Colby Mueck led the debt placement team representing the borrower.
CityCentre was developed by the borrower in 2007 and consists of retail, office, hotel and residential space surrounded by European-style, open-air plazas and green spaces. Located at 800 Town and Country Blvd., at the southeastern corner of Interstate 10 and Beltway 8, the retail center is situated in one of the wealthiest ZIP codes in Texas. Here, more than 10,800 residents who earn an average annual household income of more than $169,800 live within one-mile radius of the property.
The 307,509-square-foot retail element is leased to high-national and regional retailers and restaurants such as Studio Movie Grill, west elm, Sur La Table, Eddie V’s, BRIO Tuscan Grille, Charming Charlie, H&M, Urban Outfitters and Anthropologie.
Image courtesy of CityCentre