 |
| Rendering of Westgate1 Office Complex, West Houston, TX |
The HFF team worked
exclusively on behalf of Canada-based Nicola Crosby Real Estate to arrange a
seven-year, 4.63 percent fixed-rate acquisition loan through Principal Real
Estate Investors.
Westgate I is
situated on 5.99 acres at 17220 Katy Freeway at the Barker Cypress exit in the
heart of the Park 10 Business Center, a well-established, 550-acre business
park, which accounts for more than one-third of the square footage in Houston’s
Energy Corridor.
The building is part of a three-building
master-planned development totaling more than 660,000 square feet. The
other two adjacent buildings, which are not part of this transaction, are 100
percent leased to Wood Group Mustang, Inc.
 |
| Cortney Cole |
Delivered in 2014, Westgate I has been designed to LEED Gold
standards and features high-quality finishes, an upscale café, full fitness
center and a five-level parking garage.
The 95.7-percent-leased property is anchored
by Subsea 7 and Atkins PLC, two global corporations with investment-grade
credit that together occupy 68 percent of the building’s net rentable
area.
Additional tenants comprise a cross-section of
industries, including energy, engineering, human resources, automotive and
waste management.
HFF’s debt placement team representing the borrower consisted of
managing director Cortney Cole.
For more information,
please contact:
CORTNEY COLE
HFF Managing Director
(713) 852-3500
OR
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
No comments:
Post a Comment