Pelican Builders & Ember Group Refinance Luxury Condo In Houston For $111M

The Hawthorne, a luxury condo located at 5656 San Felipe Street in Houston, obtained $111 million in refinancing from Northwind Group. The property consists of 67 units and has attracted strong presales from local buyers.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $111,000,000
• Market: Houston
• Lender: Ran Eliasaf - Northwind Group
• Landlord: Derek Darnell - Pelican Builders; Harry Masterson - Ember Group
• Broker: John Fenoglio - CBRE

Pelican Builders and Ember Group successfully secured the $111 million financing for The Hawthorne from Northwind Group. The lenders, Northwind Group, witnessed a record-breaking start in 2024, lending a total of $310 million across various projects despite banks scaling back.