East West Bank lends $40M for two Houston office buildings
JLL Capital Markets arranged the two loans for 5300 Memorial Drive and 10497 Town & Country
HOUSTON – Jan. 7, 2020 – JLL Capital Markets announced today that it has arranged refinancing totaling $40 million for 5300 Memorial and 10497 Town & Country, office buildings totaling 302,980 square feet in Houston, Texas.
JLL worked on behalf of the borrower, an affiliate of Equus Capital Partners, to secure the five-year, floating-rate loans through East West Bank.
5300 Memorial is a recently renovated 153,671-square-foot, Class A boutique office building that is connected to a 444-space parking structure. The 11-story property is 93% leased to a diverse tenant roster comprising legal, healthcare, government, real estate, financial services and energy tenants. The asset is positioned in the heart of Houston’s inner loop with ease of access to Downtown Houston, River Oaks, Uptown, Tanglewood and the Memorial Villages.
10497 Town & Country is a recently renovated, Class A office building totaling 149,309 square feet. At 91.5% leased, the asset is home to key tenants, including Freese & Nichols, Regus and T&C Family Physicians. 10497 Town & Country is strategically positioned adjacent to the 37-acre CityCentre mixed-use development in Houston’s prestigious Memorial Villages neighborhood. CityCentre offers more than 1,050 apartments, 426 hotel rooms, 500,000 square feet of upscale retail and dining all within walking distance of the office property. Additionally, the property is positioned at the intersection of Interstate 10 and Beltway 8, providing superior access throughout the greater Houston area.
The JLL Capital Markets team representing the borrower was led by John Ream.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Equus Capital Partners, LTD.
Equus Capital Partners, LTD. is one of the nation’s leading real estate investment managers. In its 35-year history, the firm has raised approximately $3.7 billion in equity capital and has sponsored 13 value-add investment funds. Currently, the firm oversees a portfolio of approximately $3.6 billion in assets under management.
About East West Bank
East West Bank is the largest independent bank headquartered in California and one of the largest minority depository institutions in the United States. The bank provides commercial and consumer banking services that help clients reach further and connect to new opportunities. East West Bank is wholly-owned by East West Bancorp, Inc. (NASDAQ: EWBC), with total assets of $50.4 billion as of September 30, 2020.