Million, CBRE Reports: Fein Refinances Houston Apartments for $92

Martin Fein

HOUSTON – CBRE Capital Markets’ Debt & Structured Finance team has secured a $92 million loan for the refinance of Willowick Park, a 552-unit apartment project in the Inner Loop of Houston.

The apartments, recently developed by Houston-based Martin Fein Interests, are located west of Weslayan Street and south of West Alabama.

The properties included in the transaction are:

• Aria at Willowick Park, 325 units.
• Olympia at Willowick Park, 189 units.
• Townhomes at Willowick Park, 38 units.

Hal Holliday

Hal Holliday and Rusty Chiles of CBRE’s Houston office arranged the loan on behalf of the borrower, Willowick Venture, Ltd.—a partnership between a large institutional investor and the Fein organization. Fannie Mae provided the 10-year, loan which was used to refinance the original construction loan.

Willowick Park. 3255 Las Palmas Drive, is located near Highland Village, River Oaks District and the Galleria.