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| Woodway Square, Houston, TX |
HOUSTON, TX – HFF announced today that it has closed the
sale of and arranged acquisition financing for Woodway Square, a
595-unit, Class A, garden-style multi-housing community in Houston, Texas.
HFF marketed the property on behalf of the seller, Alecta Houston,
LLC. Fairfield Woodway Square, LLC
purchased the property for an undisclosed amount.
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| Craig LaFollette |
In addition, HFF assisted in securing a 10-year floating-rate
loan on behalf of the buyer through M&T Realty Capital Corporation (FNMA).
Woodway Square is located at 1200 Winrock Boulevard near the
intersection of Woodway Drive and South Voss Road in Houston’s Galleria area.
Situated on 20.65
acres, the property is 93.6 percent leased and consists of one- and two-bedroom
units averaging 1,002 square feet each.
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| Todd Marix |
Community amenities include a clubhouse, business center,
24-hour fitness center, two tennis courts, four swimming pools, heated outdoor
spa, sand volleyball court, jogging/biking trail, dog park and a 2-acre
recreational park exclusively for residents.
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| Todd Stewart |
The HFF investment sales team representing Alecta Houston,
LLC was led by senior managing directors Craig LaFollette, Todd Marix and
Todd Stewart along with directors Tre Banks and Chris Curry.
HFF’s debt placement team representing the buyer was led by managing
director Andy Scott.
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| Tre T. Banks |
Fairfield Residential Company LLC (“Fairfield”) is among the
most experienced multi-housing real estate operating companies in the United
States.
The firm consistently ranks among the leading multi-housing
investors, developers, builders, managers and owners in the United States and
is active in more than 35 geographically diverse markets.
Fairfield employs
approximately 1,500 people in offices strategically located throughout the
country.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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