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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.
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About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.4 billion, a Basel 3 CET1 Ratio(1) of 11.5% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 30 September 2019.
