11 November 2017

Caydon nabs financing for luxe Midtown tower

Australian developer Caydon will be moving forward on its first U.S. project after receiving financing for the luxury residential tower it’s been planning in Midtown.

The 27-story building will include 357 one- and two-bedroom apartments with “European-styled interiors,” according to a press release.

Ziegler Cooper designed the $200 million building. Located at 2850 Fannin St., the tower is expected to include 13,000 square feet of retail space.

HFF helped secure debt and equity financing through Bank of the Ozarks and Invesco Real Estate. HFF included senior managing director Matthew Kafka and analyst Dustin Selzer.

Earlier this year, Caydon purchased a second Midtown parcel, a parking lot next to the old Greensheet building along the light-rail line. The 41,000-square-foot lot is bound by Main, Dennis and Fannin streets.

(Originally published in the Houston Chronicle on 06 November, 2017 by Nancy Sarnoff)