HFF arranges $27.3 million in financing and joint venture equity for speculative Houston office development

– The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it arranged a construction loan and secured joint venture equity totaling $27.3 million for the development of West Pointe Center, a 166,367-square-foot, Class A speculative office building in Houston, Texas.

HFF managing directors John Rose and Wally Reid worked exclusively on behalf of the borrower, White Rock Commercial to secure the three-year, construction loan with Wachovia Bank, N.A. GE Real Estate provided joint venture equity.

Due for completion in 2009, West Point Center will be a LEED certified building with three stories of office space totaling 166,367 square feet. The property is located on a 10.8-acre site at the northeast corner of Beltway 8/Sam Houston Tollway and West Road in western Houston.

“West Point Center will be the highest quality value office product in the area and will appeal to tenants seeking large, high-quality spaces,” said Rose.

White Rock Commercial is a Dallas-based, privately-owned, full-service real estate company focused on real estate investment and development opportunities in select geographic markets and in product types that deliver strong returns to their capital partners.