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888 Westheimer Road

Prime Finance Refinances Houston's Montrose Collective Shopping Center With $760M Loan
FINANCEDRetail

Prime Finance Refinances Houston's Montrose Collective Shopping Center With $760M Loan

888 Westheimer Road

$760,000,000

$4,483/SF

Building Size

169,514 SF

Asset Type

Retail

Closing

Mar 15, 2024

AI

The loan amount of $760,000,000 is secured by Radom Capital to refinance Houston's Montrose Collective, a 169,514-square-foot shopping center located at 888 Westheimer Road in Houston's market.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $760,000,000
  • Address: 888 Westheimer Road
  • Market: Houston
  • Asset Type: Retail
  • Square Footage: 169,514

JLL Capital Markets, representing the borrower, arranged the financing through Prime Finance for the refinance transaction. Colby Mueck, Jack Britton, and Michael Johnson from JLL played a key role as brokers in securing the loan for Radom Capital.

Players

Jack Britton

JLL

Broker

$943.1M

vol

9 deals

Broker
Prime Finance
Prime FinanceLender

Houston Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93