May 11, 2017 Comments Off on First Office Building at CityPlace Secures Construction Financing Views: 556 National News, Southwest, Texas

First Office Building at CityPlace Secures Construction Financing

HFF arranged a construction loan for the development of CityPlace 2, a 10-story, 327,000-square-foot office building in Spring, TX slated to deliver in 2018. CityPlace 2 is is already pre-leased to American Bureau of Shipping, and is the first office building developed in CityPlace, a 60-acre mixed-use urban development.

The overall project is planned for four million square feet of office, more than 600 units of residential, a 337-room hotel and conference center, and more than 400,000 square feet of retail. The site is located at Interstate 45, the Grand Parkway and the Hardy Toll Road in northeast Houston.

HFF’s Wally Reid, Cortney Cole and Trent Agnew worked on behalf of the borrower, a venture between Patrinely Group, LLC, USAA Real Estate Company and CDC Houston Inc., to secure the five-year, fixed-rate construction permanent loan through American National Insurance Company.

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