Midway Gets $140M Loan From Blackstone Group For Mixed-Use Property In Houston
FINANCED
$140,000,000
Texas
See Similar DealsMixed-use
Financed 11/15/2019
FINANCED
Midway Gets $140M Loan From Blackstone Group For Mixed-Use Property In Houston
1201 Fannin St, Houston, TX, 77002
See Similar DealsMixed-use
Financed 11/15/2019
Summary
TEXAS
Asset Type:Mixed-use
Transaction Type:Loan
The $140 million loan was arranged by JLL for the refinancing of GreenStreet, a 617,000-square-foot mixed-use development located at 1201 Fannin St, Houston, TX, 77002. The property, situated in Houston’s Central Business District, encompasses office, retail, restaurant, and entertainment spaces, along with central open-air green space.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $140,000,000.00
- Asset Address: 1201 Fannin St, Houston, TX, 77002
- Market: Houston
- Borrower: Midway
- Lender: Blackstone Group
- Borrower's Rep: Laura Sellingsloh(JLL), Matthew Putterman(JLL)
Colby Mueck, Matthew Putterman, and Laura Sellingsloh of JLL facilitated the $140 million loan through Blackstone Real Estate Debt Strategies on behalf of the borrowers, Lionstone Investments and Midway. The financing was arranged for the GreenStreet development, which spans four city blocks, offering a mix of commercial and leisure facilities within the bustling Central Business District of Houston.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$140,000,000.00
Monthly NOI$933,333.33
Monthly Debt Service$884,895.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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