Northwind Group Lends $26M on Houston Mixed-Use Towers

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Real estate investment firm DeisoMoss has landed $26.1 million of pre-development financing for its planned mixed-use tower project in Houston, Commercial Observer can first report. 

Northwind Group originated the first mortgage bridge loan — through one of its discretionary debt funds — on DeisoMoss’ 551,905 square-foot development, which comprises 355 multifamily units, 100,000 square feet of Class A office space and high-end retail. Surya Capital PartnersAdi Chugh, Rich Levin and Christian Hung arranged the transaction. 

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“The pre-development loan with Northwind is instrumental in bringing us through to a foundation excavation to get to the floor-up construction loan,” Andrew Deiso, founder of DeisoMoss, told CO. “It’s probably the most coveted piece of undeveloped dirt in Houston.” 

DeisoMoss purchased the property at 2120 Post Oak Boulevard from the Tisch family last November for an undisclosed price. Deiso said an early 2023 groundbreaking is planned, and the firm has already attracted interest from “nationally recognized white-tablecloth” restaurant chains for the retail space.

Taylor Moss, who founded DeisoMoss in 2018, said the mixed-use project aims to bring a “work, play, live” tower development to Houston, a prevalent property type in other major cities.

“You see these mixed-use towers in other primary markets like New York, Chicago, Miami, Los Angeles, but it’s kind of a novel concept for Houston,” Moss said. ”We’re taking the model of these other primary markets and other very successful developers that have come before us and taking a page out of their playbook and trying to introduce these luxury high-end, what we call “Class double-A” [assets] to the Houston market.”

Manhattan-based Northwind Group has closed more than $400 million of loans over the last 18 months with more than $130 million originated in the past two months in Houston, Miami and Chicago. 

“This transaction highlights Northwind Group’s ability to provide flexible financing solutions to top-quality sponsors throughout the U.S,”  Ran Eliasaf, managing partner at Northwind Group, said in a statement. “We hope to continue working with DeisoMoss and wish them a successful execution of the business plan.”

Andrew Coen can be reached at acoen@commercialobserver.com