Monday, May 19, 2014

HFF arranges construction financing and joint venture equity for Kirby Grove mixed-use development in Houston’s Upper Kirby area


Rendering of planned Kirby Gove and Avenue Grove office, retail and mulifamily development
Upper Kirby neighborhood, Houston, TX


Colby Mueck
HOUSTON, TX – HFF announced today that it has arranged construction financing and joint venture equity for the development of Kirby Grove, a to-be-built, Class A office, retail, and multifamily development in Houston’s Upper Kirby neighborhood.

               HFF worked exclusively on behalf of the borrower, Midway Companies, to secure construction financing through Amegy Bank for the Kirby Grove Office Tower [office] and Cadence Bank for Avenue Grove [multifamily]. 

Institutional investors advised by J.P. Morgan Asset Management provided joint venture equity for both the office and multifamily components. 

               Due for completion in 3Q 2015, Kirby Grove Office Tower will be built to LEED Silver certifications and will feature 224,000 square feet of office space, and 24,000 square feet of ground floor restaurant and retail space.

 Avenue Grove is set to be delivered in 4Q 2015 and will feature 270 units situated over parking.  The office and multifamily projects are being constructed on sites adjacent to Levy Park, which is currently being redeveloped by the Upper Kirby District.

Scott Galloway
               The HFF team representing Midway Companies was led by director Colby Mueck and executive managing director Scott Galloway.

               Houston-based Midway is a privately-owned, fully-integrated real estate development and investment firm that has provided the highest level of quality, service and value to their clients and investors for 40 years. 


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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

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