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Houston Luxury Apt. Project Gets Funding

January 5, 2018 by Stellar ICRE in Industry News

Developers of a planned luxury high-rise apartment tower in Houston have landed $154 million in construction financing.

Hanover Company, of Houston, has secured a $97 million construction loan and $64 million of equity for Hanover River Oaks, a 39-story, 370-unit tower in the city’s Upper Kirby District. About half the construction loan is being funded by PNC Bank with the rest syndicated through Amegy Bank and Cadence Bank.

JP Morgan Asset…