HOUSTON, TX – HFF announced today that it has arranged financing for Seventeen15 Enclave, a 206-unit, Class A multi-housing community in Houston’s Energy Corridor.
HFF worked exclusively on behalf of the borrower, Allen Harrison Company, to secure the 10-year, fixed-rate loan with five years of interest-only payments through MC Five Mile Commercial Mortgage Finance.
Seventeen15 Enclave is located at 1715 Enclave Parkway near Eldridge Parkway and Briar Forest Drive in West Houston. The community is near major employment centers, including the Energy Corridor, Park 10 Business Center, Enclave Business Park, retail destinations such as CityCentre and Memorial City Mall, and more than 50 miles of hiking, cycling and jogging trails. The two-phase property includes an original 86-unit section that has been fully rehabbed along with 120 additional units completed in 2014. The property is 95 percent leased and offers one- and two-bedroom floor plans ranging between approximately 733 square feet and 1,205 square feet. Community amenities include a resort-style swimming pool, fitness center, clubhouse, game room and coffee bar.
The HFF debt placement team representing the borrower was led by director Cortney Cole and senior real estate analyst Chris Rider.
Allen Harrison Company is a privately-held real estate investment and service company specializing in multifamily properties. Headquartered in Houston, Texas, Allen Harrison Company focuses on properties located in markets throughout the southern United States.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.