JLL Capital Markets closed the sale and arranged the financing for 5300 Memorial Drive, a 153,671-square-foot boutique office building in Houston, Texas.
JLL represented the seller, an affiliate of Equus Capital Partners, Ltd., and procured the buyer, CAMCO Investment Group. JLL also worked on behalf of CAMCO to secure the five-year acquisition loan through Cornerstone Capital Bank.
5300 Memorial Dr. is located on the corner of Detering St. and Memorial Dr. in the heart of Houston’s Inner Loop. The property offers tenants convenient access to Downtown Houston, Memorial Park, River Oaks, Uptown, Tanglewood and the Memorial Villages as well as major employment hubs in the Texas Medical Center, Galleria and Energy Corridor. The property is within walking distance of high-end residential communities and is close to a variety of retail, entertainment and recreational amenities, including Memorial Park.
Renovated most recently in 2019, 5300 Memorial Dr. offers 11 stories of Class A office space and a connected 444-space, six-level parking garage. The property has posted exceptional leasing momentum since the renovation and is currently 90.1% leased to a variety of tenants.
JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.
JLL’s Debt Advisory team representing the borrower was led by Senior Director John Ream.
