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WACHOVIA PROVIDES $23.53 MILLION FOR OFFICE BUILDING CONSTRUCTION

Posted on by in Office, Texas

THE WOODLANDS, TEXAS — Wachovia Bank N.A. has provided $23.53 million in construction financing for Sierra Pines, a 180,000-square-foot, speculative office building located in The Woodlands. Situated on 35.5 acres at 1601 Sawdust Rd., the Class A office building is scheduled for completion in January 2009. It is the first phase of a three-building, 540,000-square-foot office development. Holliday Fenoglio Fowler’s Matt Kafka and Adam Jackson originated the loan on behalf of Stream Realty Partners LP. The property is leasing at a rate of $18 per square foot triple-net.

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