HFF announces that it has closed the sale and arranged financing for 20 Greenway Plaza, a 433,132-square-foot, Class A creative office building located in the Greenway submarket of Houston, Texas.
HFF represented the seller, Principal Real Estate Investors, and procured the buyer, Stockdale Capital Partners. Additionally, HFF placed the seven-year, fixed-rate acquisition loan with Cigna Realty Investors.
20 Greenway Plaza is positioned within Greenway Plaza, which is one of Houston’s strongest office submarkets. The property is surrounded by high-end amenities and a wealthy well-educated workforce residing in the affluent residential neighborhoods of River Oaks, West University and Bellaire and has immediate access to major thoroughfares, including U.S. 69, Westpark Tollway and Interstate Loop 610. The 10-floor project was most recently renovated in 2014 and is 95% leased to a diverse tenant roster, including Merrill Lynch, Sunnova Energy Corp, REALEC Technologies, Mitsubishi and Koch.
The HFF investment advisory team representing the seller was led by senior managing director H. Dan Miller and managing director Trent Agnew.
HFF’s debt placement team was led by senior managing director Wally Reid.
Holliday GP Corp. is a Texas licensed real estate broker.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $79.4 billion in commercial real estate assets (as of March 31, 2019). The firm's real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is a dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
About Stockdale Capital Partners
Stockdale Capital Partners is a vertically integrated real estate investment firm focused on opportunistic investments primarily in the Southwest. The firm has offices in Los Angeles, San Diego, Scottsdale and Houston and is vertically integrated with in-house property management, development, and construction teams. stockdalecapital.com
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.
