HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $23.53 million construction loan for a speculative Class A, 180,000-square-foot office development in The Woodlands, Texas. (top left photo)Working exclusively on behalf of Stream Realty Partners, L.P. HFF’s Matt Kafka (middle right photo) and Adam Jackson placed the non-recourse construction loan with Wachovia Bank, N.A. Stream Realty Partners, L.P. is a full-service real estate investment, development and services compa
ny that currently leases and/or manages more than 45 million square feet of commercial and residential buildings in Dallas, San Antonio, Houston, Fort Worth and Austin, Texas.
ny that currently leases and/or manages more than 45 million square feet of commercial and residential buildings in Dallas, San Antonio, Houston, Fort Worth and Austin, Texas. Situated on 35.5 acres at 1601 Sawdust Road, the development site is within The Woodlands master planned community north of Houston via Interstate 45. The property, which will be called Sierra Pines, is due for completion in January 2009 and is the first phase of a three-building, 540,000-square-foot office deve
lopment. “This was a rare opportunity to provide financing for a projected located inside The Woodlands city limits, which has extremely high barriers to entry. Development has been strictly regulated by The Woodlands Development Company, essentially eliminating outside competition from other developers,” said Jackson.
“In addition, sites not controlled by The Woodlands Development Company typically do not have access to utilities; 
however Stream was able to negotiate an annexation and utility development agreement for the site.”
however Stream was able to negotiate an annexation and utility development agreement for the site.” “Stream is receiving a lot of interest at the $18 NNN asking rate,” added Kafka.
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.
CONTACTS:
CONTACTS:
Matthew Kafka, HFF Associate Director, 713 852 3500, mkafka@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
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