This Week's Houston Deal Sheet
EXECS
The Houston Apartment Association named its 2016 board, including its new president, Camden’s Alison Hall, and president elect Milestone Management’s Kyle Brown. Alison and Kyle are second and fourth in this photo with 2015 president Greystar’s Jackie Rhone and state rep Dan Huberty, whom HAA just honored with the distinguished service award for his support and advocacy of the apartment industry in the state legislature. Kyle and Beth Van Winkle were given the HAA president’s award, and Jackie was presented with the HAA product/service council special recognition award.
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Smithco Development and Mischer Investments are developing Cypress Creek Plaza, a 51k SF retail property at Fry and Tuckerton roads. The 10-acre project will feature three multi-tenant buildings and three pads facing Fry Road. Over 70% of the center is pre-leased, including anchor HEB. Identity Architects designed the center, which will be ready for tenants by summer 2016.
FINANCING
Q10 KDH VP Larry Peters arranged permanent non-recourse financing for a 12k SF retail center in West Houston. Correspondent lender Genworth provided a 20-year term that will allow the lender to fully pay off the debt without ever refinancing again. The interest rate was just over 4%.
