JLL’s capital markets team has arranged refinancing totaling $40 million for 5300 Memorial and 10497 Town & Country, office buildings totaling 302,980 square feet in Houston. JLL worked on behalf of the borrower, an affiliate of Equus Capital Partners, to secure the five-year, floating-rate loans through East West Bank.
5300 Memorial is a recently renovated, 153,671-square-foot, Class A boutique office building that is connected to a 444-space parking structure. The 11-story property is 93 percent leased to a diverse tenant roster comprising legal, healthcare, government, real estate, financial services and energy tenants. The asset is positioned in the heart of Houston’s inner loop with ease of access to Downtown Houston, River Oaks, Uptown, Tanglewood and the Memorial Villages.
10497 Town & Country is a recently renovated, Class A office building totaling 149,309 square feet. At 91.5 percent leased, the asset is home to key tenants, including Freese & Nichols, Regus and T&C Family Physicians. 10497 Town & Country is strategically positioned adjacent to the 37-acre CityCentre mixed-use development in Houston’s prestigious Memorial Villages neighborhood. CityCentre offers more than 1,050 apartments, 426 hotel rooms, 500,000 square feet of upscale retail and dining all within walking distance of the office property. Additionally, the property is positioned at the intersection of Interstate 10 and Beltway 8, providing superior access throughout the greater Houston area.
The JLL capital markets team representing the borrower was led by John Ream.