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| Rendering of planned Kings Landing Apartmenets Kingwood, TX |
HOUSTON, TX – HFF announced it has arranged $6.15 million in
mezzanine financing for the development of Kings
Landing, a 327-unit, Class A multi-housing community in Kingwood,
Texas.
HFF
worked on behalf of the borrower, Mark-Dana Corporation, to secure the
mezzanine loan through an affiliate of Prime Finance.
The senior construction loan was provided by
Amegy Bank in a non-HFF related transaction.
Due
for completion in 2016, the property will be composed of 12 two- and
three-story garden-style buildings with units averaging 989 square feet each
and attached garage parking.
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| Colby Mueck |
Situated on 12.58
acres at 331 Forest Center Drive in Kingwood, the property will have frontage
along Highway 59 between the intersections of North Park Drive and Kingwood
Drive, approximately 24 miles north of downtown Houston.
HFF’s
equity placement team was led by managing director Colby Mueck.
Headquartered in Spring, Texas, Mark-Dana Corporation (MDC)
is a full service real estate company.
MDC and its affiliates develop, build and manage multi-family housing in
Texas and Virginia.
The principals of MDC have been involved in developing,
building and managing multi-family housing for more than 40 years.
For a complete copy
of the company’s news release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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