HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged fixed-rate financing for Hanover Post Oak, a 355-unit, Class A, high-rise multi-housing tower near the Houston Galleria in Houston, Texas.
HFF worked exclusively on behalf of the borrower, The Hanover Company (Hanover), to secure the 10-year, fixed-rate loan through an agency lender.
Hanover Post Oak was completed in December 2014 and has 30 floors encompassing a mix of one- , two- and three-bedroom floor plans averaging 1,060 square feet. The 355 luxury units feature 10-foot ceilings, hardwood flooring, floor-to-ceiling windows, walk-in closets, open-concept gourmet kitchens, granite and quartz countertops and sweeping views of Houston’s Uptown and CBD skylines. Common area amenities include a resort-style pool with private cabanas, 24-hour Technogym fitness club, private screening room, fully-equipped catering kitchen, pet washing station, business center, 24-hour concierge, valet dry cleaning and valet parking services. Additionally, the property has been awarded National Green Building Standard™ bronze-level certification due to the incorporation of 100 percent renewable power sources, car charging stations, compact fluorescent lighting, energy-efficient windows, ENERGY STAR®-rated appliances, high-efficiency heating and cooling systems, on-site recycling and water-conserving bathroom fixtures. Hanover Post Oak is ideally situated in the heart of Houston’s Uptown/Galleria district at 1750 Sky Lark Lane providing residents direct access to the adjacent Whole Foods and upscale retail and dining options at BLVD Place.
The HFF debt placement team representing Hanover was led by managing director Cortney Cole, executive managing director Scott Galloway and real estate analyst Dustin Selzer.
About Hanover Company: Hanover Company, located in Houston, Texas, stands among the most active private real estate companies in the United States, specializing in the acquisition, development, and management of high-quality multifamily residential properties nationwide. With over three decades of experience, Hanover is a vertically integrated company with acquisitions, development, construction, property management and asset management departments strategically focused on garden-style, mixed-use, high-density wood frame and high-rise projects. To date, Hanover's award-winning project mix totals nearly 44,000 units across the country and more than $8 billion in project costs. U.S. markets include Atlanta, Austin, Baltimore, Boston, Charlotte, Dallas, Denver, Houston, Los Angeles, Philadelphia, Phoenix, San Diego, San Francisco and Washington, D.C.
About HFF: Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is 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 sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.