HFF arranges $123 million construction loan for iconic office development in South Austin, TX

River South Office Property Rendering, South Austin, TX

HOUSTON, TX –– HFF announced that it has arranged a $122.94 million construction loan for the development of River South, an iconic office development totaling 360,860 square feet in South Austin, Texas.

Colby Mueck

HFF worked on behalf of the borrower, Stream Realty Partners, to secure the construction loan through New York Life Real Estate Investors on behalf of New York Life Insurance Company.

Due for completion in 2021, River South will comprise 347,778 square feet of office and 13,082 square feet of ground floor retail within a 15-story glass structure. 

The state-of-the-art property will feature 37,000-square-foot average floorplates allowing increased flexibility for high density users, five levels of subterranean parking and a fitness studio. 

River South has a premier location at 401 South 1^st Street, which is at the confluence of South 1^stStreet, W. Riverside and Barton Springs Road just across Lady Bird Lake from Downtown Austin. 

Robert Wooten

This allows the property to benefit from Austin’s live, work, play lifestyle with immediate access to the world-renowned South Congress corridor, the Downtown employment hub and the iconic Austin neighborhoods of Zilker, Bouldin Creek and Travis Heights.

The HFF debt placement team representing the borrower included senior managing director Colby Mueck, managing director Robert Wooten, senior director Chris McColpin and analyst Jayme Nelson.

About New York Life Real Estate Investors

New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors’ website athttp://www.newyorklife.com/realestateinvestors for more information.

Chris McColpin

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. 

With over $54.5 billion in assets under management as of December 31, 2018*, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

*Real Estate Investors AUM of $54.5B is gross and includes AUA ($1.6B), and debt ($0.6B) as of 12/31/18. Net AUM for Real Estate Investors is $53.9B as of 12/31/18.

CONTACTS:

COLBY MUECK

HFF Senior Managing Director

(713) 852-3500

cmueck@hfflp.com

ROBERT WOOTEN

HFF Managing Director

(512) 532-1900

rwooten@hfflp.com  

KRISTEN MURPHY

HFF Director, Public Relations

(617) 848-1572

krmurphy@hfflp.com

streamrealty.com.

HFF arranges acquisition financing for HP Plaza at Springwoods Village in North Houston, TX

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.

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. 

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. 

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. 

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.

David S. Etemadi

For more information about Apollo, please visit www.apollo.com.

CONTACTS:

CHRIS HEW

HFF Senior Director

(202) 533-2500

chew@hfflp.com 

TRENT AGNEW

TX Lic. #574897

HFF Managing Director

(713) 852-3500

Tagnew@hfflp.com

KRISTEN MURPHY

HFF Director, Public Relations

(617) 338-0990

krmurphy@hfflp.com

Cher - A Star in Show Biz and Real Estate! Her Former Home in Hawaii Listed for $11 Million

Cher      

William Long HOLLYWOOD, CA --Although she has been one of the world’s greatest stars as a singer, comedian and actress, Cher might have had an even more successful career as a real estate developer.  From Florida to California and Hawaii, Cher has had her hand in designing and decorating a number of homes.

Photo by  Hualālai Realty    Among her developments are one on the Big Island in Hawaii at the exclusive gated Hualālai Resort. There, she and her architect-partner, William Long, designed a stunning ocean-view, Bali-style house - a result best described as contemporary meets exotic. Bob Parsons   The current owner, billionaire businessman Bob Parsons, who founded GoDaddy in 1997 and the founder of PXG/Parsons Xtreme Golf has put the home on the market fully furnished for $10.955 million.                         CONTACT: Genelle C. Brown Content Manager, Media DivisionTopTenRealEstateDeals.com Phone:  434-480-4504 Twitter:  @toptenrealestat facebook.com/toptenrealestat