Natixis Lends $45 Million for Houston Multifamily Acquisition
Natixis originated a $45.0 million floating rate, first mortgage loan to Hines Global Income Trust for the acquisition of Venue Museum District, a 224-unit, Class A, mid-rise multifamily complex located at 5353 Fannin Street in the Museum District of Houston, Texas.
Venue Museum District consists of two connected condo quality buildings, with a mix of one-bedroom and two-bedroom residences. The common amenities include a sports lounge with multiple televisions, a state-of-the-art fitness center and spinning room, and a courtyard with a heated swimming pool and outdoor kitchen.
The property is located Houston’s Museum District, a neighborhood that boasts 16 cultural institutions including Rice University. Hermann Park, a 400-acre park that includes the Houston Zoo, an 18-hole golf course, a planetarium and Museum of Natural Science, is also located in the Museum District. The property is midpoint between the Texas Medical Center, which contains 13 major hospitals, and the Central Business District. The Metrorail, a light rail system, connects the two major employment centers and has a stop one block from the property.
Hines Global Income Trust is a nontraded real estate investment trust, sponsored by Hines, that invests globally in income-oriented commercial real estate. Hines is a privately owned global real estate investment, development and management firm, founded in 1957 with $111 billion assets under management as of December 31, 2017. They have a presence in 201 cities in 24 countries.