Tuesday, July 28, 2015

HFF arranges $37.5 million financing for luxury apartment project in Houston’s Museum District

Cappella Museum District,  1699 Hermann Drive, Houston, TX

 HOUSTON, TX, July 28, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged $37.5 million in financing for the development of Cappella Museum District, a 224-unit, seven-story luxury apartment project in Houston’s Museum District.

Working on behalf of the developer, Tema Development (1988), Inc., HFF placed the construction permanent loan with AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors LLC.

Cappella Museum District is situated on a 2.25-acre site at 1699 Hermann Drive near Jackson Street overlooking Hermann Park and the new McGovern Centennial Gardens.

 Due for completion in late 2016, the property will have 238,000 square feet of studio, one- and two-bedroom units and five penthouse suites.  

The property will also have a 12,000-square-foot courtyard and a 351-space, five-story parking garage that will provide direct entry into each floor of residences. 

The 9,000-square-foot amenity area will include a seasonal ice skating rink, café bar, resident club, conference room, fitness center, yoga room, swimming pool, fire pit, barbecue area, electric car charging station and a sky lounge on the top floor that will provide views of Hermann Park, the Museum District and downtown Houston. 

The HFF debt placement team representing the borrower was led by senior managing director Matt Kafka.

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

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