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| HP Plaza at Springwoods Village, 11300 and 11400 Energy Drive at City Place, North Houston, TX |
HOUSTON, TX
–– HFF announces that it has closed the financing of HP
Plaza at Springwoods Village, two newly constructed Class AA office
buildings totaling 378,402 square feet at CityPlace, a 60-acre, mixed-use urban
district within Springwoods Village at the intersection of Interstate 45 and
the Grand Parkway in North Houston.
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| Chris Hew |
HFF
worked on behalf of the borrower, Northridge Capital, LLC to secure the
fixed-rate acquisition loan through Apollo Global Management, who provided the
loan on behalf of Athene Holdings.
HFF also represented the seller in the
sale of the property to Northridge.
HP
Plaza at Springwoods Village is located at 11300 and 11400 Energy Drive within
the 2,000-acre Springwoods Village mixed-use community that is positioned at
the intersection of Interstate 45 and the Grand Parkway North Houston.
When fully complete Springwoods
Village will include four million square feet of Class A office space, 400,000
square feet of integrated retail space, diverse housing options, civic
facilities, outdoor recreation, shopping, dining and lodging in an urban
walkable environment.
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| Cary Abod |
Completed in 2018, the two LEED-certified buildings are fully
leased to HP, Inc. and join corporate neighbors ExxonMobil, Southwestern Energy
and American Bureau of Shopping in Springwoods Village.
HFF’s
debt placement team representing the borrower/buyer was led by senior director Chris
Hew and managing director Cary Abod.
The HFF investment
advisory team representing the seller included managing director Trent Agnew
and senior managing director Jeff Hollinden.
“HP
Plaza checks the three boxes Northridge Capital looks for when pursuing single
tenant opportunities: 1) strong credit quality and cash flows; 2) desirable
underlying, functional real estate and 3) a dynamic suburban/urban location
that will cater to the workforce of the future and serve as a recruiting tool
for the tenant,” David Etemadi, Vice President of Acquisitions for
Northridge Capital said.
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| Trent Agnew |
“We believe more and more
Fortune 500 companies will choose to locate in these types of locations around
the country in the ‘arms race’ for the best human capital.”
“HP Plaza is a world class asset that offers
excellent yield in a growing submarket of Houston,” Hew said. “We’re
pleased to have helped Northridge secure financing for this property.”
Holliday
GP Corp. ("HFF") is a Texas licensed real estate broker.
About
Northridge Capital, Inc.
Northridge Capital, LLC, based in Washington, D.C., is an independent real estate private equity firm that has invested in more than 50 assets on behalf of investors, with a combined acquisition value greater than $1 billion.
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| Jeff Hollinden |
Since its founding in 1997, the Company has focused on generating
superior risk-adjusted returns for international high net-worth individuals and
institutions.
The Company acquires, manages
and sells real estate assets across a wide variety of property types and
geographic areas.
About Apollo
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo.
Apollo had assets under management of approximately $280
billion as of December 31, 2018 in private equity, credit and real assets funds
invested across a core group of nine industries where Apollo has considerable
knowledge and resources.
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| David S. Etemadi |
CONTACTS:
CHRIS HEW
HFF Senior Director
(202) 533-2500
TRENT AGNEW
TX Lic.
#574897
HFF Managing Director
(713) 852-3500
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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