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The Howard Hughes Corp Secures $250M Loan For Office Property In The Woodlands

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FINANCED
$250,000,000

Texas

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Office808,000 SF
Financed 10/19/2021
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Property Image
FINANCED

The Howard Hughes Corp Secures $250M Loan For Office Property In The Woodlands

1201 Lake Robbins Drive, The Woodlands, TX, USA

See Similar Deals
Office808,000 SF
Financed 10/19/2021
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Office
Price Per Square Foot:$309
Total Square Footage:808,000 SF
Transaction Type:Loan

The office property located at 1201 Lake Robbins Drive in The Woodlands has been involved in a closed transaction. The property spans an impressive 808,000 square feet and is owned by The Howard Hughes Corp, represented by David R. O'Reilly. The transaction details include a loan amount of $250,000,000 with a loan term of 10 years.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $250,000,000
  • Address: 1201 Lake Robbins Drive
  • Market: The Woodlands
  • Asset Type: Office
  • Square Footage: 808,000
  • Landlord: The Howard Hughes Corp
  • Landlord's Representative: David R. O'Reilly
  • Loan Term: 10 years

This transaction highlights the collaboration between The Howard Hughes Corp and David R. O'Reilly. The loan secured for the property amounted to $250,000,000 and will span over a period of 10 years. This deal represents a significant investment in The Woodlands office market.

Details

FINANCED
IMAGE: David R. O'Reilly DATE: 10/19/2021 ADDRESS: 1201 Lake Robbins Drive MARKET: The Woodlands ASSET TYPE: Office ~ SF: 808,000 LANDLORD: The Howard Hughes Corp - David R. O'Reilly LOAN AMOUNT: $250,000,000 LOAN TERM: 10-year loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$250,000,000.00

Monthly NOI$1,666,666.67
Monthly Debt Service$1,580,170.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00