HOUSTON--Kinghorn, Driver, Hough & Co. (KDH) has secured a $67 million construction-to-permanent loan for a new multifamily high-rise to be located in Houston's inner loop. Financing was provided by the KDH correspondent life company, The Hanover Co.
The commercial mortgage banking company's senior vice president Buddy Hopson led the transaction.
“The borrower was able to lock in a competitive long-term rate for this project on the front end of this development, and the combination construction-to-permanent loan structure saved the developer the costs of two separate loan closings,” Hopson said to GlobeSt.com.
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