Joseph Slezak Of 3L Real Estate Secures $136M Loan From Bank OZK For Houston Office Conversion

The asset involved in this transaction is the One City Centre office tower, located at 1021 Main Street in downtown Houston, TX. This property has a total square footage of 780,530 and is being converted into a mixed-use residential and hospitality property. The transaction was secured through a loan amounting to $136 million.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $136,000,000
• Address: 1021 Main Street
• Market: Houston, TX
• Asset Size: 780,530 SF
• Lender: Bank OZK
• Landlord: Joseph Slezak - 3L Real Estate
• Planned Units: 460 multifamily units and 93 corporate lodging suites
• Planned Amenities: coworking spaces, gym, lounge, and rooftop pool

In this transaction, Joseph Slezak represents 3L Real Estate, which secured financing from Bank OZK to facilitate the conversion of the property. The development will enhance the offering in the area with mixed-use spaces and various amenities aimed at attracting residents and guests.