Thursday, February 24, 2011

HFF closes $176 million sale and arranges $130 million financing for three Class A office buildings at the Houston Galleria


 HOUSTON, TX –HFF announced today that it has closed the $176 million sale of and arranged $130 million in financing for three Class A office buildings totaling 1,065,628 square feet that are part of the Houston Galleria (top left photo).

HFF marketed the property on behalf of the seller, an affiliated entity of Walton Street Capital, L.L.C., and procured the buyer, Unilev Capital Corporation. 

“During the process interest rates increased substantially.  Unilev and the lender committed to close the transaction and both closed as originally agreed to, which is a testament to their character and abilities to bring capital in an ever changing marketplace,” said Robert Williamson (middle right photo) of HFF.

HFF worked exclusively on behalf of the buyer/borrower, Unilev Capital Corporation, to secure the 10-year, fixed-rate acquisition loan through J.P. Morgan Chase Bank, N.A.  The loan will be serviced by HFF. 

“Dan and Raymond Levy worked diligently to close this transaction for Unilev and displayed the highest level of professionalism through the entire process,” added Williamson. 

Located at 2700 Post Oak Boulevard, 5051 Westheimer and 5065-5075 Westheimer, the properties are part of the Houston Galleria, a mixed-used development that includes 2.3 million square feet of upscale retail space, two Westin hotels with 893 rooms, three office towers and parking for 12,685 vehicles.

The Houston Galleria anchors the Galleria/West Loop office submarket and is located about five miles west of downtown Houston.  Tenants at the 90 percent leased office towers include Air Liquide, Southern Union, Merrill Lynch, Citigroup Global Markets, UBS, Banco Santander and BBVA Bancomer.

The HFF investment sales team representing Walton Street was led by senior managing director Robert Williamson. 

HFF senior managing director Wally Reid (lower left photo)  led the team representing the borrower, Unilev Capital Corporation.

Robert Williamson, HFF Senior Managing Director, (713) 852-3500
 Wallace Reid, HFF Senior Managing Director, (713) 852-3500,
Kristen Murphy, HFF Associate Director, Marketing, 713) 852-3500


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