Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a joint venture equity investment for the development of Frost Tower, an iconic approximately 460,000-square-foot, Class AA office tower to be built in downtown San Antonio, Texas.

HFF worked exclusively on behalf of the developers, San Antonio-based Weston Urban and Dallas-based KDC. Dallas-based TRT Holdings, Inc. provided joint venture equity for the development. Frost Tower will be the first multi-tenant luxury office tower to be constructed in downtown San Antonio in 30 years.

“We tasked HFF with not only arranging joint venture equity for the first speculative office tower in downtown San Antonio in three decades, but also with helping us identify a partner with the characteristics that mean the most to us: character, integrity and an alignment of mission and purpose,” stated Randy Smith, president of Weston Urban. “We couldn’t be more excited about the outcome.”

Due for completion in 2019, Frost Tower is designed by world famous architectural firm Pelli Clarke Pelli and will serve as the corporate headquarters for Cullen/Frost Bankers, Inc., the parent company of Frost Bank. Frost will lease more than 60 percent of the building on a long-term lease continuing the company’s commitment to downtown San Antonio that has spanned 150 years. Additionally, Frost will operate a financial center on the ground floor. At 23 stories, this one-of-a-kind project will offer approximately 430,000 square feet of office space, approximately 20,000 square feet of ground floor retail and approximately 10,000 square feet of tenant amenity space including a fitness center and tenant lounge.

According to HFF, the property will represent the newest sophistication of upper-tier office space in downtown San Antonio and is truly a “best-in-class” property in every respect.

Situated on a 2.8-acre site at the corner of West Houston Street and North Flores Street, the project flanks the Houston Street corridor, fronts San Pedro Creek, and is within walking distance of numerous restaurants, cafes, bars and housing in downtown San Antonio. Tenants at Frost Tower will enjoy the hike-and-bike trails and pedestrian walkways constructed with the San Pedro Creek Improvements Project scheduled to deliver May 2018.

The HFF team representing the developers was led by director Campbell Roche along with executive managing director Mark Gibson, senior managing director Trey Morsbach and managing director John Taylor.

About Weston Urban

Weston Urban was founded by Rackspace Co-Founder, Chairman and CEO Graham Weston and former Rackspace Vice President of Real Estate and now Weston Urban President Randy Smith with the aim of accelerating downtown redevelopment and improving San Antonio’s national profile as a destination city for young professionals and their families. With decades of experience acquiring, financing, constructing, owning, leasing and managing Class A office space the Weston Urban team is spearheading the redevelopment of downtown San Antonio. Recent acquisitions in the San Antonio CBD include the Rand Building, the Milam Building, and the Savoy Building.

About KDC

KDC is a leading corporate build-to-suit development and investment firm for companies across the country. Within the last 27 years, KDC has produced approximately 30 million square feet valued at over $5 billion. KDC addresses the future of Corporate America by developing walkable, mixed-use urban environments anchored by notable clients, and specializes in datacenter and broadcast studio build-to-suits. KDC's portfolio includes developments for Toyota North America, Liberty Mutual, State Farm (Dallas and Atlanta offices), FedEx, Raytheon, and J.P Morgan Chase. KDC is headquartered in Dallas and is supported by a national team. For more information, please visit kdc.com.

About TRT

TRT Holdings, Inc. is a privately owned, diversified holding company based in Dallas, Texas with primary interests in hospitality, energy, fitness and real estate, as well as an extensive investment portfolio. TRT-owned companies include Omni Hotels and Resorts, Gold’s Gym International and Tana Exploration.

About HFF

Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.comor follow HFF on Twitter @HFF.