HOUSTON-HFF has closed the sale of and arranged acquisition financing for Woodway Square, a 595-unit, Class A, garden-style multi-housing community in Houston, Texas.
HFF marketed the property on behalf of the seller, Alecta Houston LLC. Fairfield Woodway Square, LLC purchased the property for an undisclosed amount. In addition, HFF assisted in securing a 10-year floating-rate loan on behalf of the buyer through M&T Realty Capital Corp. (Fannie Mae).
Woodway Square is located at 1200 Winrock Boulevard near the intersection of Woodway Drive and South Voss Road in Houston's Galleria area. Situated on 20.65 acres, the property is 93.6 percent leased and consists of one- and two-bedroom units averaging 1,002 square feet each. Community amenities include a clubhouse, business center, 24-hour fitness center, two tennis courts, four swimming pools, heated outdoor spa, sand volleyball court, jogging/biking trail, dog park and a 2-acre recreational park exclusively for residents.
The HFF investment sales team representing Alecta Houston, LLC was led by senior managing directors Craig LaFollette, Todd Marix and Todd Stewart along with directors Tre Banks and Chris Curry.
HFF's debt placement team representing the buyer was led by managing director Andy Scott.