November 29, 2016
Houston-based developer Martin Fein Interests Ltd. has secured a $92-million loan to refinance the 552-unit Willowick Park in Houston. Hal Holliday and Rusty Chiles with CBRE arranged the 10-year SARM loan, used to refinance the original construction loan.
Located at 3255 Las Palmas Dr., Willowick Park consists of three adjacent, separately operating properties:
- 325-unit Aria at Willowick Park
- 189-unit Olympia at Willowick Park
- 38-unit Townhomes at Willowick Park
Each property has resort-style swimming pools, fitness centers, valet parking and 24-hour concierge services. All three complexes are anchored by a one-acre public green space called Willowick Park. Fein Interests will eventually develop a third apartment mid-rise on a vacant 2.25 acres, which currently contains a dog park for residents.
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