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1201 Fannin St, Houston, TX...

Updated Oct 29, 2024

Midway Gets $140M Loan From Blackstone Group For Mixed-Use Property In Houston
FINANCEDMixed-use

Midway Gets $140M Loan From Blackstone Group For Mixed-Use Property In Houston

1201 Fannin St, Houston, TX, 77002

$140,000,000

Building Size

—

Asset Type

Mixed-use

Closing

Nov 15, 2019

About this deal

AI

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:

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.

On the Map

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$140,000,000

Mixed-use

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Players

Laura Sellingsloh

JLL

Broker

$206M

vol

4 deals

Broker
Blackstone
BlackstoneLender
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Houston Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.11%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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