HFF Closes Sale and Arranges Financing for 3-Property Office Portfolio Adjacent to Houston’s Tanglewood and Memorial Villages Neighborhoods

HOUSTON–(BUSINESS WIRE)–Apr 5, 2019–HFF broadcasts that it has closed the sale of a 3-property workplace portfolio totaling 544,291 square feet in an urban infill vicinity adjacent to several of Houston’s maximum prestigious residential neighborhoods, such as Tanglewood and Memorial Villages.

HFF advertised the property on behalf of the vendor, a partnership led via Unilev Capital Corporation and procured the consumer, CapRidge Partners, LLC. Additionally, HFF labored on behalf of the consumer to relaxed the four-year, floating-fee acquisition/bridge financing via New York Life Real Estate Investors on behalf of New York Life Insurance Company.

 

The portfolio contains 1616 Voss, 7500 San Felipe, and 6363 Woodway, which are placed west of Houston’s Galleria place. The three assets are walkable to an abundance of retail amenities, such as Whole Foods, Kroger, Trader Joe’s, and numerous eating options. Additionally, the portfolio is proximate to Houston Country Club, one of Houston’s oldest and maximum prestigious usa golf equipment.

The portfolio will go through an extensive renovation and repositioning with a kind of $15 million allotted across the three homes. These upgrades will include extensive upgrades to building structures, complete common location enhancements, and revolutionary tenant-centric services. The portfolio will be leased with the aid of Craig McKenna and Matthew Asvestas with Stream Realty Partners.

Dan Terpening, director at CapRidge Partners, stated, “We are excited to enlarge CapRidge Partners’ presence within the dynamic Houston marketplace. The portfolio affords a excellent opportunity to feature fee with the aid of utilizing our disciplined funding enjoy and operational excellence. The HFF investment advisory group representing the vendor blanketed senior coping with director H. Dan Miller, senior director Martin Hogan and analyst Johnny Kight.

HFF’s debt placement crew representing the new proprietor changed into led-through dealing with director Jim Curtin and senior managing director Andy Scott.
Holliday GP Corp. (“HFF”) is a Texas licensed real property broker.

About Unilev Capital Corporation

Unilev Capital Corporation is a privately held actual property investment business enterprise that still invests with a choice, a confined institution of private and institutional partners to collect nicely-positioned, profits-producing commercial homes with a brief-term opportunistic method protracted-time period, low-threat investment horizon. Unilev’s Houston portfolio consists of Galleria Towers I and II, Galleria Financial Center, One and Three Riverway, and other office and retail homes.

About CapRidge Partners

CapBridge Partners is a totally integrated funding control and running employer centered on value-add office residences in 9 select U.S. Markets, along with Houston. Their strategy is to acquire nicely-positioned assets underneath alternative costs that offer opportunities to add value by supplying proactive control, delivering stronger customer service and wellbeing services, leasing to stabilized occupancies, marking-to-marketplace expiring leases, and completing capital projects. Since 2012, CapRidge has purchased 33 office buildings.

Eddie Bowers
Eddie Bowershttp://homezlog.com/
With an eye for design, I have always loved home improvement. Whether it's making a house look bigger by painting walls white, adding a new kitchen, or finding the perfect piece of furniture, there is something out there that can make a space feel more comfortable and inviting. I love to explore the latest trends in home decor, as well as home repair, so I can help people find solutions for projects and projects.My articles aim to provide the latest tips and tricks, help people understand home improvement terminology, and inspire them to take on their home improvements. I am passionate about creating content that can help people solve problems, and I'm excited to use my skills and writing experience to help people through home improvement, home repair, and interior decorating.