HOUSTON—Transwestern has arrangedfinancing for construction of the Astoria, ahigh-rise condominium tower that broke ground last year in theGalleria submarket here. The 29-story property, which has a totalof 75 residences, is scheduled for completion in December 2016.

Jan Sparks and MichaelSnodgrass, managing directors with Transwestern's Houstonoffice, organized the financing on behalf of developerRandall Davis of D.C. Partners.The project's architect of record is Page Southerland Page and thegeneral contractor is G.T. Leach Constructors LLC.

“It was a challenge to find a construction lender willing andable to take on a ground-up, for-sale condominium development ofthis size on a non-recourse basis,” says Sparks. “Randall Davis hasonce again demonstrated his skill and expertise in knowing whatworks and what is truly appealing for condominium buyers inHouston.”