HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has secured acquisition financing for Waterside at Mason, a 246-unit, Class A apartment community in the West Houston suburb of Richmond, Texas.
HFF worked exclusively on behalf of the borrower, Hilltop Residential, to arrange the five-year, fixed-rate loan with interest-only payments through a life company correspondent lender.
Waterside at Mason is located at 1901 Waterside Village Drive in Richmond and is zoned to the Fort Bend Independent School District. Completed in 2017, the 6.6-acre property offers access to Texas State Highway 99 (Grand Parkway) and the Westpark Tollway, as well as major employment and retail drivers in Sugar Land, Katy, the Energy Corridor, Westchase and the Galleria/Uptown District. Units include a mix of one- and two-bedroom units averaging 867 square feet. Community amenities include a resort-style pool, fitness center, resident clubhouse with conference room, recreation room with billiards, in-unit washers and dryers, walk-in closets and patios or balconies.
The HFF debt placement team representing Hilltop Residential was led by managing director Cortney Cole and analyst Jett Lucia.
About Hilltop Residential: Headquartered in Houston, Hilltop Residential provides investors with superior risk adjusted returns by acquiring well-located multifamily properties that will produce consistent cash flow and steady capital appreciation. Hilltop invests in cities and neighborhoods with strong demographics and positive employment growth. Hilltop’s Principals have 17 years of experience acquiring and operating multifamily assets including 102 acquisitions and 48 round-trip deals. Hilltop is committed to being a world-class real estate investment company that provides unparalleled excellence to its customers and investors. For more information, visit livehilltop.com
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