HOUSTON — Holliday Fenoglio Fowler (HFF) arranged fixed-rate financing for Hanover Rice Village, a 379-unit apartment community located near Rice University in Houston.
HFF acted exclusively for the borrower, The Hanover Company, a Houston-based multifamily developer, and secured a 10-year fixed-rate loan through an agency lender. The Harris County Appraisal District valued the project at $91 million last year.
Completed in 2013, Hanover Rice Village comprises 379 residential units and nine retail spaces totaling 22,599 square feet. Retail tenants include Coppa Italian Food, Punk’s Simple Southern Food, and Cyclone Anaya’s Mexican Kitchen.
The LEED-certified property sits at the corner of Kelvin Drive and Dunstan Road, one block east of Kirby Drive, providing convenient access to Rice University and nearby amenities.
The HFF debt placement team representing Hanover included Cortney Cole, Scott Galloway, and Dustin Selzer.
Jan 23, 2017 Realty News Report Copyright 2017