HOUSTON, TX – HFF announced today that it has closed the sale of and arranged financing for Easton Commons, a 193,595-square-foot, grocery-anchored community center in Houston, Texas.
HFF marketed the property on behalf of the seller, a joint venture between affiliates of The Hutensky Group and an investment account managed by American Realty Advisors. NewQuest Epic Investments and an institutional partner purchased the property for an undisclosed amount free and clear of existing debt. HFF also arranged acquisition financing on behalf of the buyer through BBVA Compass Bank.
Easton Commons is located at the northeast corner of Highway 6 and West Road in Houston’s Copperfield master-planned community. The center is 86 percent leased and is anchored by Kroger, who just renewed their lease, and Studio Movie Grill. New ownership intends to remodel the entire center.
The HFF investment sales team representing the seller was led by senior managing director Rusty Tamlyn, managing director Ryan West and real estate analyst Matt Berry.
HFF’s debt placement team was led by director Adam Herrin along with senior managing director Andy Scott, director Cameron Cureton and real estate analyst Michael George.
American Realty Advisors is an investment advisor, and a leading provider of real estate investment management services to institutional investors. With more than $5.7 billion in assets under management, American has provided real estate investment management services to institutional investors for more than 25 years utilizing core and value-added commingled funds and separate accounts. The firm’s portfolios include office, industrial, multi-family, retail and other properties nationwide, all of which are managed on behalf of American’s clients. Information regarding American can be found at www.americanreal.com.
NewQuest Epic Investments is the investment arm of NewQuest Properties, a full-service retail development, leasing and management company with assets totaling more than $1 billion in value. The NewQuest Epic Investment team, and its institutional partners, seek value-add grocery-anchored and power center retail in top 60 markets, select college towns and resort communities nationwide. For more information about NewQuest Epic Investments, or NewQuest Properties, please visit www.newquestepic.comand www.newquest.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.