This Week's Houston Deal Sheet
HFF has been busy in Houston's multifamily market. The firm secured financing on two assets totaling 758 units.
HFF worked the deals for Aura Memorial, a 388-unit, Class-A community in the Energy Corridor, and Coles Crossing, a 370-unit, Class-A community in the northwest Houston suburb of Cypress.
For Aura Memorial, on behalf of Trinsic Residential Group, HFF placed a seven-year, floating-rate loan through Freddie Mac’s CME Program. At Coles Crossing, working on behalf of Venterra Realty, HFF got a term of seven years that provides for two one-year extensions. The interest rate is 3.21% for the initial seven-year term and includes three years of interest-only payments followed by a 30-year amortization.
SALES
JLL’s Chip Nash, Greg Austin and Bob Heard worked on behalf of the seller to sell Broadmead Apartments, a Class-B multifamily asset at 2801 Broadmead Drive. Houston-based Nitya Capital purchased the 235-unit property. The asset was 95% leased at the time of closing.
***
Marcus & Millichap’s Alex Bouchard and Gus Lagos sold Broadway Shopping Center, a 6,700 SF retail property at 3933 Broadway. The asset had a list price of $1.7M.
LEASES
Tenaris selected NAI Partners’ Sam Hansen and Doug Pack as exclusive leasing agents for its 196k SF, 10 story, Class-A office building at 2200 West Loop South.
***
Knoas Flooring renewed a 26k SF industrial lease at Claymoore Business Park, 3600 Brittmoore Road in Houston. JLL’s Geoff Perrott and David Buescher repped the tenant. Transwestern's Darryl Noon repped the landlord, Claymoore Northwest.
***
DMG MORI signed a 19k SF lease at 8420 North Sam Houston Pkwy W. Lee & Associates’ Thomas Leger, Chase Cribbs and Patrick Wolford repped the landlord, an entity managed by Nelson Commercial Properties. JLL’s Grant Glatty and David Buescher repped the tenant.
PERSONNEL
DCT Industrial Trust’s Sarah Covington will be recognized as a 2016 NAIOP Developing Leader. Sarah was selected as one of 21 individuals nationwide to receive the honor, awarded to up-and-coming professionals under the age of 35 for their exemplary professional accomplishments.
***
Chris Ochterbeck joined Moody Rambin as an associate for the Industrial Services Team. Chris will focus on the leasing and sales of industrial and investment real estate. He previously worked at Halliburton in independent account sales.
