Done Deals: HFF closes sale and financing of Ashford on the Bayou in Houston, TX

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.

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.

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.

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.

To learn more, please visit: www.rpdcatalyst.com.

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.