HFF Secures $188.8M Financing for Post Oak Central
- Sep 20, 2013
Commercial real estate and capital markets service provider HFF has secured $188.8 million in financing for Post Oak Central, a three-building office, retail and parking complex in Houston’s Galleria area.
Working exclusively on behalf of Atlanta-based Cousins Properties Inc., HFF placed the seven-year, non-recourse, fixed-rate mortgage loan with TIAA-CREF, according to company statements. The property was previously unencumbered with debt.
The HFF team representing Cousins was led by executive managing director Scott Galloway and director Colby Mueck.
Located at 1980-2000 Post Oak Blvd., Post Oak Central is close to the Galleria Mall, Loop 610 and Interstate 10 in Houston’s Galleria/West Loop submarket.
Totaling a combined 1.2 million square feet of office space, the Class A complex includes One Post Oak Central, completed in 1975; Two Post Oak Central, completed in 1979; and Three Post Oak Central, completed in 1981. Additionally, the 17-acre business complex includes 86,046 square feet of retail space and 4,418 parking spaces.
With panoramic views of the downtown, Galleria, Memorial and Tanglewood neighborhoods, the LEED Gold-certified Post Oak Central features premier amenities including 24-hour monitored security, on-site management and engineering, a child-care center, a conference center, a 20,000-square-foot health club, 3.5 parking spaces per 1,000 square feet, and dry cleaning and banking facilities.
The property is currently 95.6 percent leased. Tenants include Apache Corp., Stewart Information Systems and GDF Suez North America.
Cousins is a fully integrated, self-administered and self-managed real estate investment trust primarily focused on Class A office and retail projects in high-growth Sunbelt markets, particularly Georgia, Texas and North Carolina.
Photo credits: Post Oak Central