Wednesday, September 26, 2018

EverWest Leases Entire UpCycle Project to Texas-Based Grocer H-E-B


Upcycle Development, 2416 East Sixth Street, East Austin, TX

Austin, TX – EverWest, in partnership with WHI Real Estate Partners L.P. (“WHIREP”) and co-developer George Oliver Companies, has completed a long-term, full-building office lease at its UpCycle renovation project with Texas-based grocer H-E-B.

The lease will bring a world-class tech facility and innovation lab to East Austin, Texas.

H-E-B is scheduled to take occupancy of the approximately 82,000-square-foot UpCycle project during the first quarter of 2019.
Curt Kremer
“H-E-B’s occupancy of this building will put the finishing touches on what has been an exciting adaptive reuse project for our team,” said George Oliver Companies Managing Partner Curt Kremer.

Cadie Crean

“UpCycle’s vision was a great culmination of an ownership and design team working together to deliver a one-of-a-kind product in one of the country’s fastest growing cities.”
“UpCycle represents hundreds of hours focused solely on making this development a very ‘Austin’ creation,” added Cadie Crean, Director of Asset Management for EverWest.
Cortland Lowe
 “We couldn’t be happier that those efforts caught the eye of a true born-and-bred Texas company, and that this project will be the next chapter in their impressive growth story.
Located at 2416 E. Sixth Street in Austin, UpCycle represents a top-to-bottom renovation that transformed a 1972-built recycling facility into a new standard of institutional quality, creative office space for Austin.
The project totals two stories and 81,606 square feet and is peppered with ‘Austin’ features like artistic graffiti pillars and the retention of several original project elements, including areas that feature the building’s original corrugated metal exterior and incorporate artwork by local artists from the building’s prior use.
Edvin Beasley
Amenities at UpCycle include a common area lobby with collaborative meeting spaces, a coffee bar, outdoor patios, showers and a vintage boxcar incorporated into the fa├žade of the building as an outdoor meeting space.

As part of the project’s improvements, the development team also installed entirely new building systems comparable to the best Class A buildings in the city.
UpCycle sits in East Austin, 1.5 miles from Austin’s central business district and within walking distance to light rail and a host of shopping and dining destinations.
Edvin Beasley, Brad Philp and Scott Deskins of Stream Realty Partners represented EverWest and WHIREP in the UpCycle lease.
Brad Philp
Cortland Lowe and Case McCoy of HPI Corporate Services represented H-E-B.
Gensler was the architect for UpCycle. Austin-based Burt Group is the general contractor.

EverWest has an active track record of successful creative office renovations spanning major markets across the West.

 In addition to UpCycle, these developments include LINQ in Redondo Beach, California; Junction 23 in Denver, Colorado; The Quad in Scottsdale, Arizona; and The Circuit in Tempe, Arizona.
EverWest Real Estate Investors LLC, a wholly owned subsidiary of GWL Realty Advisors, is a real estate investment and operating company based in Denver, Colorado. 
Scott Deskins

The company’s goal is to create significant value for investors through a combination of capital appreciation, strategic acquisition, development, capitalization, repositioning and management of commercial real estate assets. 

For more information on EverWest, visit www.everwest.com. For more information on GWL Realty Advisors, visit www.gwlra.com.

WHI Real Estate Partners L.P. (“WHIREP”) is a Chicago-based investment firm focused on repositioning middle-market real estate assets throughout the United States. 


Case McCoy
WHIREP manages a series of discretionary investment funds on behalf of university endowments, foundations, pension plans, family offices, and other investors.

 For more information about WHI Real Estate Partners L.P., visit www.whirep.com.







CONTACT:

Stacey Hershauer
FocusAZ
480.600.0195
stacey@focusaz.com


HFF announces financing for 137-unit apartment community in Houston, TX


4 eighty West Parker Apartments, Houston, TX


HOUSTON, TX– Holliday Fenoglio Fowler, L.P. (HFF) announces financing for 4 eighty West Parker, a 137-unit apartment community in Houston, Texas.

Cortney Cole

The HFF team worked on behalf of the borrower, TriArc Properties, to secure a five-year, fixed-rate loan with two years of interest-only payments. Rhonda J. Sands, Senior Vice President/Commercial Real Estate of Green Bank, facilitated the loan. Loan proceeds refinanced existing debt on the property.

Rhonda J. Sands
4 Eighty West Parker is located just west of Interstate 45 and 3.5 miles north of Loop 610 in the Northline submarket of Houston. 

The property is situated on approximately 5.6 acres and consists of 12 two-story residential buildings comprising units averaging 906 square feet. 

Sterling Curry
Renovated this year, units feature washer and dryer connections, hardwood-style flooring, and private balconies or patios.  Common area amenities include a swimming pool, picnic area, playground, clubhouse and business center.  4 eighty West Parker is 93.7 percent occupied.

HFF’s debt placement team representing the borrower included managing director Cortney Cole and analyst Sterling Curry.

CONTACTS:

CORTNEY COLE
HFF Managing Director
(713) 852-3500

OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500