HOUSTON—HFF announces the sale of and has arranged financing for 7700 San Felipe, a 100,176-square-foot office building located west of the Galleria.
In an update to a previous story, HFF's debt placement team, led by associate director Corby Chaffin, arranged financing for a fixed-rate loan with Nationwide Bank, one of HFF Houston's correspondent life company lenders.
The five-story property is located on San Felipe near the upscale residential neighborhoods of Memorial Villages and Tanglewood. 7700 San Felipe is currently 95% leased up from 77% in 2011 when Velocis Fund purchased the building. During that time the owners were able to increase asking rents 15% from the mid-teens, Velocis tells GlobeSt.com
The HFF team representing the seller, a joint venture between Velocis Fund and Houston-based Fuller Realty Partners LLC, was led by senior managing director Dan Miller and director Martin Hogan.
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