HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for 4 eighty West Parker, a 137-unit, apartment community in Houston, Texas.
The HFF team worked on behalf of the borrower, TriArc Properties, to secure a five-year, fixed-rate loan with two years of interest-only payments. Rhonda J. Sands, Senior Vice President/Commercial Real Estate of Green Bank, facilitated the loan. Loan proceeds refinanced existing debt on the property.
4 Eighty West Parker is located just west of Interstate 45 and 3.5 miles north of Loop 610 in the Northline submarket of Houston. The property is situated on approximately 5.6 acres and consists of 12 two-story residential buildings comprising units averaging 906 square feet. Renovated this year, units feature washer and dryer connections, hardwood-style flooring, and private balconies or patios. Common area amenities include a swimming pool, picnic area, playground, clubhouse and business center. 4 eighty West Parker is 93.7 percent occupied.
HFF’s debt placement team representing the borrower included managing director Cortney Cole and analyst Sterling Curry.
About TriArc Propertiesa: TriArc Properties is a full-service investment management firm focused on the acquisition of unique multifamily real estate assets with untapped value to deliver market leading returns to its investors. TriArc Properties was established in 2013 by the principals of The Atlas Company and Kindred Residential as a full-service investment vehicle to leverage the operational platforms, industry networks and skill sets of each respective firm to successfully execute on a yield-plus and value-add investment strategy in the multifamily real estate asset classes. The firm’s owned and third-party managed portfolio includes approximately 800 conventional apartment units spread across the Houston Metro and surrounding areas with assets under management totaling over $40 million.
About Green Bancorp, Inc. Headquartered in Houston, Texas, Green Bancorp is a bank holding company that operates Green Bank in the Houston and Dallas metropolitan areas and Austin, Louisville and Honey Grove. Commercial-focused, Green Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the Department of the Treasury of the United States.
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