Radom Capital receives loan for Montrose Collective
Premier mixed-use development in one of Houston’s trendiest, in-demand neighborhoods
HOUSTON, March 3, 2020 – JLL Capital Markets announced today that it has arranged construction financing and joint venture equity for the Montrose Collective, a premier four-building, mixed-use development with 150,000 square feet of creative office and retail space in Houston’s Montrose District.
The Montrose Collective comprises four land parcels totaling 2.44 acres at the corner of Westheimer Road and Montrose Boulevard. The existing property housing Uchi, Southside Espresso, Hue and Rosemont will remain operational during construction. The remaining acreage will be developed into a six-story, 150,000 square-foot building with ground-level retail and restaurant space, second floor medical office and service retail space, and creative office space on the upper floors; and a three-story retail building with upper floors to be occupied by a new 10,000 square-foot branch of the Montrose Library. In total, the project will offer retail frontage on four streets, public and private parking, patio and greenspace alongside the 50,000 square feet of retail and 100,000 square feet of office space.
The project is ideally situated in the Montrose District, which is positioned between downtown, the Texas Medical Center, Rice University and River Oaks. This neighborhood has quickly become one of the trendiest and in-demand neighborhoods in Houston with dozens of award-winning restaurants, nationally recognized museums and three of the city’s top Universities within a three-mile radius. Additionally, the Montrose Collective has convenient access to Houston’s major freeways, including Interstates 45 and 10, State Highway 288 and U.S. Route 59, as well as the nearby light rail line, which provides service between downtown and the Medical Center.
The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Colby Mueck and Ryan West, Senior Director Matthew Putterman and Analysts Jett Lucia and Matthew Williamson.
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 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.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
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, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Radom Capital
Radom Capital is diversified real estate development and investment firm based in Houston, Texas. The company aspires to collaborate community, culture and commerce in all of its projects. For more information, please visit: radomcapital.com.