Southwest Regional Office
“ We are pleased to provide bridge financing on an attractive repositioning opportunity within one of Houston’s best located office sub-markets, and to continue our lending relationship with Hines and Prime Asset Management, both best-in-class real estate owners and operators. This transaction is an example of our ability to provide competitive value-add financing with specific loan terms tailored to meet the sponsor’s renovation and lease-up objectives.” —Ryan Doyle, Senior Director
- Developed by Hines and completed in 2003, it was the first skyscraper in the state of Texas to receive LEED Platinum status
- In 2019, the building completed a ground-floor renovation that will welcome forward-thinking tenants for years to come, including a hospitality-inspired lobby with new furnishings, wall and elevator finishes, lighting and security console upgrades, and new food and beverage concepts
- Loan proceeds will be used to support the sponsor’s ongoing repositioning strategy, which envisions substantial amenity improvements, including Hines’ new co-working concept
Source: REI Southwest Regional Office, July 2019.