The Hanover Co. Receives Financing for Houston Property
- Feb 06, 2017
Houston—HFF announced that it has arranged a fixed-rate financing for Hanover Post Oak, a 355-unit, Class A, high-rise tower, located near the Houston Galleria. The 10-year, $79.2 million loan is held by Fannie Mae, according to Yardi Matrix.
Hanover Post Oak is a 30-story tower situated at 1750 Sky Lark Lane, completed in December 2014. The unit mix offers one- to three-bedroom floor plans averaging 1,060 square feet. Unit amenities feature 10-foot ceilings, hardwood flooring, floor-to-ceiling windows, walk-in closets, open-concept gourmet kitchens, and granite and quartz countertops.
Common area amenities include a resort-style pool with private cabanas, 24-hour Technogym fitness club, private screening room, catering kitchen, pet washing station, business center, 24-hour concierge, valet dry cleaning and valet parking services. The property received the National Green Building Standard bronze-level award due to a series of upgrades that include the incorporation of 100 percent renewable power sources, car charging stations, compact fluorescent lighting, energy-efficient windows, ENERGY STAR-rated appliances, high-efficiency heating and cooling systems, on-site recycling and water-conserving bathroom fixture.
The HFF debt placement team representing the borrower, The Hanover Co., was led by Managing Director Cortney Cole, Executive Managing Director Scott Galloway and Dustin Selzer, real estate analyst.
Images courtesy of Yardi Matrix and Hanover Post Oak