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| Ashford on the Bayou, 1001 South Dairy Ashford, Houston, TX |
HOUSTON, TX,
April 15, 2019 – HFF announces that it has closed the sale and financing of Ashford
on the Bayou, a 126,811-square-foot office building in Houston, Texas.
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| Susan Hill |
HFF marketed the property on behalf of the seller, RPD
Catalyst, LLC, and procured the buyer, Hartman Income REIT. Additionally,
HFF worked on behalf of the new owner to secure the five-year, fixed-rate
acquisition loan with RGA Reinsurance Company.
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| H. Dan Miller |
Ashford on the Bayou is strategically located between two
of Houston’s prestigious submarkets, the Energy Corridor and Westchase, which
are home to some of the most influential and important energy-related companies
in the world, including Conoco, Shell Oil, BP America, Citgo, and more.
The
five-story property is situated on a heavily-wooded 2.5-acre site at 1001 S
Dairy Ashford just south of Memorial Drive and Interstate 10 along
Houston’s Buffalo Bayou.
Currently 55 percent leased, the newly
renovated asset offers 26,000-square-foot average floorplates and an attached
seven-story, 467-space parking structure.
The HFF investment advisory team representing the seller
included senior managing director H. Dan Miller and analyst Johnny
Kight. HFF’s debt placement team included senior managing director Susan
Hill and managing director Steve Heldenfels.
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| Johnny Kight |
Holliday GP Corp. ("HFF") is a Texas licensed
real estate broker.
About RPD Catalyst, LLC
Headquartered
in Los Angeles, RPD Catalyst, LLC has owned or acquired more than 7.63 million
square feet of residential, retail, office and industrial properties in 15
states and 31 U.S. markets.
About Harman Income REIT
Hartman
Income REIT is one of Dallas and Houston’s premier property management
companies. Hartman has owned and operated commercial office properties
since 1983 in Dallas, Houston and San Antonio. For more information,
please visit: www.hi-reit.com.
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| Steve Heldenfels |
CONTACTS:
H. DAN
MILLER, CCIM, SIOR
HFF Senior Managing Director
(713) 852-3500
SUSAN HILL
HFF Senior Managing
Director
(713) 852-3500
KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990
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