Friday, December 18, 2015

HFF secures capital for development of 101 Center in downtown Arlington, TX

Rendering of planned 101 Center, Downtown Arlington, TX
(Rendering by WDG Architecture Dallas, PLLC)

Jeremy Sain
DALLAS, TX –- Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured capital for the development of 101 Center, an upscale, urban mixed-use property in downtown Arlington, Texas.

HFF worked on behalf of a joint venture between Catalyst Urban Development and LandPlan Development to secure first mortgage construction financing through Bank of the Ozarks and equity through Canyon Partners Real Estate LLC.

Due for completion in June 2017, 101 Center is the initial phase of Arlington City Center, a downtown core redevelopment project that includes a new central library, city council chambers, public plaza and private mixed-use development, all set within new urban streetscapes.

 The 2.35-acre site is located at 101 S. Center Street, across from Arlington City Hall and approximately two blocks north of the University of Texas at Arlington campus, which has grown to more than 47,000 students and 1,500 faculty members.

 The property will have 244 residential units in various housing categories and will include “live-work-play” spaces at street level and approximately 18,500 square feet of ground-floor retail.  This project is being completed in partnership with the City of Arlington and includes a public/private parking garage.

The HFF team representing the developer was led by associate director Jeremy Sain.

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

Olivia Hennessey
HFF PR Coordinator, Marketing
(713) 852-3500

Fixed-rate acquisition financing for mid-rise apartment community in Houston’s Midtown submarket arranged by HFF

Calais at Courtlandt Square Apartments, Midtown Submarket, Houston, TX
                                                                                               (photo by Yvonne Hondros)

HOUSTON, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged acquisition financing for Calais at Courtlandt Square, a 356-unit, Class A mid-rise apartment community in Houston’s Midtown submarket.

Working on behalf of the borrower, Venterra Realty, HFF placed the seven-year acquisition loan with a balance sheet lender.  The loan has a fixed-rate of 3.14 percent with three and a half years of interest only payments.

Cortney Cole
Calais at Courtlandt Square is located at the intersection of Louisiana and Elgin Streets in the heart of the culturally diverse Midtown neighborhood, which is situated between Houston’s Central Business District and Museum District.

 The property has a prime location proximate to Interstates 69 (Highway 59) and 45 connecting residents to major employment centers, including downtown and the Texas Medical Center. 

Completed in 2003, the 92-percent-leased property has one-, two- and three-bedroom units ranging from 621 to 1,724 square feet.  

Upon acquisition, Venterra will rebrand the property as Calais Midtown and will implement an interior upgrade program as units turn that will include new flooring and appliances, as well as enhancing the property’s exteriors and amenities, including renovations to the leasing office, fitness center, business center and pool/courtyard areas.

The HFF debt placement team representing the borrower was led by director Cortney Cole.

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

Olivia Hennessey
HFF PR Coordinator, Marketing
(713) 852-3500