Holliday Fenoglio Fowler, L.P. (HFF) announces the refinancing of 3737 Buffalo Speedway, a 383,777-square-foot, Class AA office tower in Houston’s Greenway Plaza submarket, owned by a partnership of Houston-based PMRG and National Real Estate Advisors, LLC (National).
The HFF team worked on behalf of PMRG and National to secure the three-year, floating-rate loan. Loan proceeds are being used to retire existing debt and complete the building’s leasing.
Developed by PMRG and National, 3737 Buffalo Speedway is situated on a 3.36-acre site at the southeast corner of Buffalo Speedway and Richmond Avenue. This location offers access to numerous shopping and restaurant destinations, including Highland Village, The River Oaks District, Rice Village and The Galleria. Completed in 2016, the LEED © Silver office tower is 18 stories high and offers tenants a full-service fitness center, conference center, structured parking and will feature a full-service restaurant operated by chef John Besh named Eunice. 3737 Buffalo Speedway is 73 percent leased to tenants including, Solvay America, HCA Gulf Coast Division and FKP Architects.
The HFF debt placement team representing the borrower included senior managing director Wally Reid and director Matthew Putterman.
About PMRG
Headquartered in Houston, Texas, PMRG is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects. PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities. For additional information, visit www.pmrg.com or contact Whitney Williams at wwilliams@pmrg.com or 713-209-5935.
About National Real Estate Advisors
National Real Estate Advisors is a leading investment manager specializing in build-to-core—developing and owning large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of stabilized modern property assets—apartment, office, mixed-use, industrial, data center and hotel—with design features, technological enhancements, and amenities that can drive high tenant demand and create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund, a substantial pension trust with holding a significant amount of assets that are managed by National on a discretionary basis.
About HFF
HFF and its affiliates operate out of 26 offices and are 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 advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
