CBRE Capital Markets Secures $111M Financing for Luxury Condo Project in Houston

CBRE has secured $111 million in financing for The Hawthorne, a 67-unit luxury condo project in Houston being developed by Pelican Builders and Ember Group in a joint venture.

CBRE Capital Markets’ Debt and Structured Finance team, represented by John Fenoglio and Brock Hudson, sourced the condo inventory and construction loan on behalf of the borrower, to retire the existing senior and mezzanine financing and complete remaining construction work.

“CBRE is proud to have been a part of this transaction. The financing agreement represents a strategic and mutually beneficial partnership between the borrower and lender, creating a win-win situation for all parties involved,” said Brock Hudson, Vice President with CBRE. “The Hawthorne is a best-in-class asset backed by top notch sponsorship in Pelican Builders and Ember Group and we look forward to a successful delivery.”

Located at 5656 San Felipe, The Hawthorne is situated within minutes of the Galleria, Memorial and River Oaks neighborhoods. The 17-story condo building features two- and three-bedroom units ranging from 1,700 to 4,500 sq. ft. Amenities include 24-hour concierge, resort-style pool, fitness center and private resident lounge. The project is near completion, and more than 50 percent of the units have been presold.