HOUSTON, TX – October 11, 2018 – HFF announces the sale and acquisition financing for WaterWall Place, a LEED Silver, seven-story luxury multi-housing community in Houston’s Uptown District.

The HFF team marketed the property on behalf of the seller, Hines.  HASTA Capital purchased the offering free and clear of existing debt.  Additionally, HFF worked on behalf of the new owner to secure a fixed-rate acquisition loan through Barings Real Estate, part of Barings LLC, one of the world’s largest diversified real estate investment managers, on behalf of an institutional investor.

The seven-story, 322-unit residential project is situated in the heart of Uptown Houston, centered among the Gerald D. Hines Water Wall Park, the iconic Williams Tower and The Galleria.  Designed by Jackson & Ryan Architects in collaboration with Wallace Garcia Wilson Architects, the 316,287-square-foot signature project was Hines’ first multifamily development in Houston and was completed in 2014.

Kevin Batchelor, Hines senior managing director, said, “WaterWall Place was a significant project for us and the property provides the buyer a first-class asset with an exceptional location.  The project’s premier setting, along with its architectural design and amenities, has resulted in attracting a very affluent renter profile and a successful lease-up with rents above pro forma.”

Rob Little, Head of Real Estate Core Mortgage for Barings added, “We are pleased to add this high-quality multifamily property to our Houston portfolio, consistent with our strategy of lending on properties in walkable locations and population growth centers.  We look forward to expanding our relationship with HASTA Capital.”

The HFF investment advisory team representing the seller included senior managing director Todd Marix, managing director Chris Curry and analyst Estee Ibanez.

HFF’s debt placement team representing the borrower included senior managing director Matt Kafka and managing director Kelly Layne.