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| Laura Sellingsloh |
HOUSTON, TX – JLL announced it has arranged a $140 million refinancing for Greenstreet, an urban mixed-use office and retail asset totaling 617,000 square feet and located in Houston’s central business district.
JLL worked on behalf of the borrowers, Lionstone Investments and Midway, to secure the loan, which was provided by Blackstone Real Estate Debt Strategies.
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| GreenStreet, a 617,000-SF development, spans four contiguous city blocks Central Business District, Houston, TX |
GreenStreet, which spans four contiguous city blocks, is an urban mixed-use campus comprising 617,000 square feet of premier office, shopping, dining and entertainment options surrounding The Lawn, a central open-air green space.
Not part of the collateral but inclusive in the overall development is Hotel Alessandra, a 223-room luxury hotel that was completed in 2017.
GreenStreet comprises three components – two stories of creative office atop ground floor retail; the 11-story, 260,000-square-foot GreenStreet office tower, most recently NRG’s Houston headquarters; and the attached parking garage that features 1,450 spaces and 24,000 square feet of additional office space.
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| Colby Mueck |
GreenStreet is located within walking distance of the Toyota Center and George R. Brown Convention Center and houses notable tenants including House of Blues, Guadalajara and AT&T SportsNet.
Most recently, the property executed a 15-year, 108,000-square-foot lease with Life Time, which will feature a diamond-level fitness resort, spa, café, and the company’s new co-working concept, Life Time Work.
The Sponsors are underway with a multi-million-dollar capital improvement plan.
Renovations to GreenStreet include making visitor wayfinding more visually appealing, opening up central corridors to enhance visibility and elevating the office tenant experience.
Also under construction, is a new two-story, light-filled lobby, which will be accessible on the ground floor of the tower to create a sense of arrival and distinct point of entry for office tenants and visitors.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Colby Mueck, Director Matthew Putterman and Associate Laura Sellingsloh.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
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| Matthew Putterman |
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.
Contact:
Kristen Murphy
JLL Director, Public Relations
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com
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