Gables Residential has broken ground on the 316-unit Gables Post Oak apartments in Houston, near Loop 610 and San Felipe at the SE corner of Post Oak Park and Post Oak Place, according to a report by Jennifer Dawson of the Houston Business Journal. Northwestern Mutual is JV partner with Gables, Dawson said.
In other news:
HFF announced that it secured $220 million in financing for eight multi-housing properties in Florida and Nevada on behalf of Olen Properties Corporation. HFF arranged eight separate fixed-rate loans through M&T Realty Capital Corporation. The loans were sold through M&T’s Fannie Mae Program.The properties total 2,468 units and have an average occupancy of in excess of 90%.