Natixis Provides $147.2M Loan For San Felipe Plaza Refinancing In Houston
5847 San Felipe St, Houston, TX, 77057
$147,200,000
Building Size
—
Asset Type
Office
Closing
Nov 22, 2023
About this deal
AI
The refinancing of San Felipe Plaza, a 46-story office tower in the Galleria/Uptown area of Houston, has been supported by a floating-rate loan of $147.2 million from Natixis Real Estate Capital. The Class A property, with 980,473 square feet of space, was originally constructed in 1983 and underwent renovations in 2015. Situated at 5847 San Felipe St, Houston, TX, 77057, the building features amenities such as a fitness center, multiple dining options, a conference center, dry cleaner, and a Starbucks.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $147,200,000.00
- Borrower's Rep: Susan Hill (JLL)
- Lender: Natixis Real Estate Capital
Susan Hill of HFF played a key role in arranging the loan on behalf of the borrower, a subsidiary of Parkway Inc. The financing was facilitated by French investment bank Natixis, showcasing their involvement in supporting real estate developments and transactions in the Houston market.
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$147,200,000
Office
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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