HFF arranges $66m construction loan for Texas mixed-use project
July 22, 2017 – Holliday Fenoglio Fowler (HFF), on behalf of BKR Memorial II and developer Midway, has arranged $66m construction loan for the first phase of mixed-use project in Houston, Texas.
The financing has been provided through U.S. Trust, Bank of America Private Wealth Management.
The project, dubbed Buffalo Heights, is a grocery-anchored property located in Houston’s Washington Avenue corridor.
Located on a site at 3663 Washington Avenue, first phase of the Buffalo Heights development will be anchored by a 90,000 sq ft H-E-B.
Besides the ground-floor grocery store, the project will also feature 2,200 sq ft of inline adjacent retail and 36,800 sq ft of boutique, double-height office space in the three floors along Washington Avenue.
The seven-storey building, known as St. Andrie, will include 232 luxury urban apartment homes, including studio, one- and two-bedroom floor plans ranging from 553 sq ft to 1,545 sq ft. It is slated to be completed in 2019.