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$121.6M Financing for Historic MXU in Downtown Houston
Dallas-based Provident Realty Advisors received $121.62 million in financing for the redevelopment of The Star, a historic mixed-use residential, retail and storage property in downtown Houston. HFF worked on behalf of the borrower to secure the floating-rate bridge loan through TPG RE Finance Trust.
The Star was originally commissioned in 1915 by the Texas Company, later known as Texaco, and is one of the last remaining pre-World War II buildings in Houston’s CBD. Nearing completion, the property bounded by Rusk, Fannin, Capitol and San Jacinto Streets will comprise 286 luxury multifamily units, more than 26,000 square feet of retail, 8,000 square feet of climate-controlled storage and 672 parking spaces.
HFF’s debt placement team representing the borrower included Steve Heldenfels and Matthew Putterman.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development