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
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