HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces acquisition financing for Ascension on the Bayou, a newly built, 280-unit, Class A multi-housing community in Houston, Texas.
The HFF team worked on behalf of the borrower, Tarantino Properties, to secure a 10-year acquisition loan with a fixed interest rate of 4.43 percent with six years of interest-only payments.
Ascension on the Bayou was completed in 2017 and is situated along Buffalo Bayou at 150 W. Sam Houston Parkway at the convergence of Houston’s Energy Corridor, Westchase and Memorial City neighborhoods. The LEED Silver, mid-rise podium-style property offers immediate access to Terry Hershey Park and multiple employment, retail, dining and entertainment amenities. Ascension on the Bayou features a variety of one- and two-bedroom floor plans, some of which also include a study, and high-end finishes, island kitchens with breakfast bars, full-size washers and dryers, recessed lighting, walk-in closets, and patios or balconies providing unobstructed views of the woods along the bayou. Community amenities include an infinity-edge pool, grilling area, fire pit, covered fitness plaza with ping pong tables, indoor fitness center, entertainment lounge, business center and pet park.
HFF’s debt placement team representing the borrower included managing director Cortney Cole and analyst Sterling Curry.
About Tarantino Properties: Tarantino Properties is a real estate investment and service company based in Houston, Texas, specializing in income-producing properties since 1980. The company manages more than $2 billion in assets throughout the United States providing a full complement of quality services, including management, brokerage, leasing and construction services for multifamily and commercial properties.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.