HFF Announces Financing for Luxury High-Rise Apartment Community in Frisco, Texas
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces financing for the development of SkyHouse Frisco Station, an upscale 332-unit, 25-story, Class A high-rise apartment community in the North Dallas suburb of Frisco, Texas.
The HFF team worked on behalf of the development group, a partnership between Novare Group and Batson-Cook Development Company (BCDC), to secure a construction loan through BBVA Compass Bank and Trustmark Bank and joint venture equity through an investor advised by Stockbridge Capital Group (Stockbridge).
SkyHouse Frisco Station will be situated within the 242-acre Frisco Station mixed-use project, which, once completed, will include a 50-acre corporate campus, 5.5 million square feet of additional office space, 180,000 square feet of medical office/wellness space and 32 acres of green space. SkyHouse Frisco Station will feature a mix of studio, one-, two- and three-bedroom apartments and approximately 3,300 square feet of ground-floor retail. The property will also feature a 25th floor amenity deck with a resort-style pool, outdoor kitchen, fireplaces, a pool table and shuffleboard. Other amenities will include a fitness center, dog spa, business center and coffee bar.
The HFF team representing the developer included senior managing director Roberto Casas and senior director Jim Curtin.
About Novare Group: Novare Group is a real estate development and investment company headquartered in Atlanta, Georgia, consisting of several investment and operating companies, including Novare Group Holdings, LLC and NGI Investments, LLC. Since 1995, Novare Group has developed over 12,900 high-rise residences in 39 buildings in the United States. Learn more by visiting novaregroup.com
About BCDC: Founded in 1963, Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia Batson-Cook Development Company offers a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting batsoncookdev.com
About Stockbridge: Stockbridge Capital Group (stockbridge.com) is real estate investment management firm headquartered in San Francisco, California with offices in New York, Chicago and Atlanta. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of September 30, 2017, the firm’s total assets under management was $11.1 billion.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.