3650 REIT provides $ 31 million loan for construction of mixed-use project in Houston

HOUSTON – () – 3650 REIT, a nationwide commercial real estate lender that creates and manages portfolio loans for relationship borrowers, is pleased to announce that it has provided a $ 31 million loan for the construction of 4411 San Felipe, a 95,000 square foot mixed-use retail and office space project located at 4411 San Felipe Street in Houston, Texas. The loan has a term of 30 months and is granted to sponsor DC Partners, a Houston-based development and investment firm with a portfolio of 1.5 million square feet and $ 500 million currently in development.

“We are happy to end the year on a strong note with this loan for the San Felipe project, which involves a premier sponsor with a clear path to provide high-end office and retail in the Post Oak Park submarket. , in Houston. Said Jonathan Roth, Co-Founder and Managing Partner of 3650 REIT. “With our creation of over $ 125 million on our bridges and events-focused platform this month alone, we enter 2021 with great momentum and look forward to capitalizing on the many opportunities we see to respond. to the unique needs of borrowers and continue to develop our differentiated lending platform.

4411 San Felipe will include shops on the ground floor and three office levels above three parking levels. The property will provide office tenants with views of downtown Houston while providing storefronts maximum exposure on San Felipe Street. The building enjoys significant pre-rental and is located in Houston’s Post Oak Park submarket, which is considered one of the few areas in the city with Class A offices, multi-family buildings, retail upscale retail, fine dining and luxury hotels. Just minutes from the Houston Galleria, Uptown Park and the River Oaks neighborhood, the property offers immediate access to I-610 for easy commuting. Sponsor DC Partners selected 3650 REITs for funding based on a pre-existing relationship and 3650 REIT’s understanding of the dynamics of the Post Oak Park submarket in a city that has been overlooked by other lenders.

Doug Dillard, CFO of DC Partners, said: “The 3650 REIT team was able to secure execution at a time when many lenders could not, and focused on establishing ‘a long term relationship with us from day one. Recognizing the significant opportunity in Houston’s growing market, the location of 4411 San Felipe adjacent to our Arabella luxury condominium development will help ensure its success as a hub for work and play in the neighborhood. Uptown business of the city.

Houston’s Post Oak Park submarket offers a unique blend of commercial amenities and residential properties within the greater Houston market. According to the Greater Houston Partnership, the Houston metropolitan area experienced the third highest population growth in the country between 2018 and 2019.

Michael Fleischer and Shin Bowers led the transaction team for 3650 REIT.

About 3650 FPI

3650 (pronounced “Thirty-Six Fifty”) REIT is a nationwide commercial real estate lender that creates and manages portfolio loans for relationship borrowers. 3650 REIT’s highly differentiated lending process, nationwide reach, vertically integrated platform, and Rated Special Servicer status enable it to deliver tailored financing solutions, high quality service, and reliable, focused results. the customer. Co-Founders and Managing Partners Toby Cobb, Justin Kennedy and Jonathan Roth have played a leading role in the evolution of CRE debt markets with a track record of success in CRE loans, mortgage banking, capital markets, the loan service and the management of loans in difficulty. Headquartered in Miami, Florida, with offices in New York, Los Angeles, Chicago, Dallas and Nashville, 3650 REIT is well positioned to lend on properties located across the country. For more information visit: www.3650REIT.com.

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