HOUSTON – Holliday Fenoglio Fowler (HFF) has arranged a $64.2 million refinancing for Brookhollow Central I, II and III, a three-building office complex totaling 806,541 square feet in Houston.
Working on behalf of Parmenter, HFF placed the loan with MetLife Real Estate Investors. The loan is interest-only for the full term and was used to refinance the existing debt and provide capital for future tenant improvements, leasing commissions and capital expenditures.
Brookhollow Central I, II and III are located at 2800, 2900 and 2950 North Loop at the intersection of US 290 and Interstate 610 in Houston’s North Loop West submarket.
Substantially renovated between 2006 and 2015, the complex is anchored by the Houston area headquarters of Comerica Bank.
The HFF debt placement team representing the borrower was led by senior managing directors Ed Coco and Wally Reid.
“The US 290 corridor expansion and improvement project, due for completion in 2017, will further enhance Brookhollow’s excellent freeway access and freeway visibility,” said Coco. “The project includes widening US 290, adding feeder lanes, installing the Hempstead Tollway and reconstructing the US 290/I-10/I-610 interchange, which will provide a new exit off of I-610 for access to Brookhollow.”
A plan for a proposed high-speed rail from Dallas to Houston has targeted the 290/Loop 610 area as a possible terminus point.
Miami-based Parmenter is a real estate investment, management and development firm headquartered in Miami with regional offices in Dallas and Atlanta.
Feb 5, 2016