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