The TC Energy Center in Houston, managed by Ken Moczulski of M-M Properties, secured a $252 million loan from Barry Sternlicht's Starwood Property Trust for refinancing purposes. The iconic office building, located at 700 Louisiana Street, faced financial instability due to a $96 million delinquent loan before this crucial refinancing.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $252,000,000
• Address: 700 Louisiana Street
• Market: Houston
• Lender: Barry Sternlicht - Starwood Property Trust
• Landlord: Ken Moczulski - M-M Properties
• Broker: John Spafford - CBRE
• Loan Type: Refinance

John Spafford of CBRE played a pivotal role as the broker in facilitating this significant transaction. The collaboration between Barry Sternlicht, Ken Moczulski, and John Spafford ensured the successful refinancing of the TC Energy Center, allowing for essential renovations and tenant attraction efforts to maintain the building's stability in the face of Houston's high office vacancy rates.