Houston — JLL’s Capital Markets Group has secured a senior mortgage loan for iconic project CITYCENTRE.
Houston — Jones Lang LaSalle’s Capital Markets Group has secured a senior mortgage loan for the retail portion of CITYCENTRE, a 312-676-square-foot class A retail center in Houston. JLL represented the project’s owners, a joint venture of Midway Companies and a pension fund advised by L&B Realty Advisors LLP. AEGON provided the loanthrough its affiliate, Transamerica. JLL’s Tom Fish, Paul House and John Ream led the team in arranging the transaction. The loan has a 5-year term with a 3.54 percent interest rate.
CITYCENTRE Retail is part of the 1.8 million-square-foot CITYCENTRE, a mixed-use development that also contains office, entertainment and multifamily space, in addition to the 244-room Sorella hotel and a 30,000-square-foot conference center. The project is adjacent to Town & Country Village, and the two provide the area with approximately 800,000 square feet of shopping attractions.