JLL secures refinancing for 1225 North Loop in Houston
Highly visible office property in North Loop submarket
HOUSTON, July 24, 2019 – JLL announces that it has secured refinancing for 1225 North Loop, an 11-story, 200,418-square-foot office building in the North Loop submarket of Houston, Texas.
Working on behalf of the borrower, 1225 North Loop Investments, Inc., JLL placed the 25-year, self-amortizing, fixed-rate loan with CUNA Mutual Group.
1225 North Loop is positioned on a highly visible 3.055-acre site along Interstate 610 just a few miles north of Houston’s Galleria submarket and a few miles west of Houston’s central business district. The property is close to many of Houston’s most affluent neighborhoods, including River Oaks, Tanglewood and the Memorial Villages, and proximate to Houston’s major employment centers. Amenities at 1225 North Loop include the Hightower Deli, a new conference room, extensive parking, 24-hour security and free Wi-Fi.
The JLL Capital Markets team representing the borrower was led by director Michael Johnson and analysts Jett Lucia and Robby Derrick.
“1225 North Loop offered CUNA Mutual Group an opportunity to partner with a prominent, long-term oriented borrower on a well-positioned asset that features a stable rent roll and cash flow,” Johnson said.
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 a sale, financing, repositioning, advisory or recapitalization execution. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.