HOUSTON, TX — Hertz Investment Group (HIG), a fully integrated real estate investment firm, has completed a finance package through a bond raise on the Tel Aviv Stock Exchange which raised the proceeds necessary to amply fund future leasing costs and repay existing debt on Brookhollow Central—a three-tower Class-A office complex totaling more than 800,000 square feet of space found in three buildings that stand both 12 and 14 stories high. The property is located in the desirable West Loop market in the heart of Houston.
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| Robert Licht |
Hertz Investment Group looked to secure financing in both the US and Israeli markets and after comprehensive research and due diligence, Hertz decided to complete the $65 million bond raise through the Tel Aviv Stock Exchange.
“Our existing subsidiary in Israel provides additional options for capital that most of our competitors do not have. These additional options allow us to execute our strategic plans more effectively,” said Robert Licht, Chief Financial Officer of Hertz Investment Group. “Now that we have secured this leasing package, we can deploy these funds to further enhance leasing efforts and achieve a fully stabilized occupancy level on this asset.”
Brookhollow is situated between two of Houston’s most-traveled freeways and just minutes from the Galleria, which is considered the retail and restaurant mecca of Texas. The property offers exceptional accessibility and convenience of abundant nearby and on-site amenities including an auditorium-style conference facility, sundry shop, fitness center, bank, deli and the convenience of three parking garages providing 2,788 parking spaces.
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| Zev Hertz |
“Even though the real estate market in Houston has been challenging over the past two years, we’ve been able to outperform in our leasing efforts during this time,” said Zev Hertz, Chairman and CEO. “We weathered the storm for many reasons, mainly due to the property’s prime location, our focused on-site management, one-on-one relationships with our tenants and being anchored by solid, well-established companies.”
As the world is emerging from the pandemic, Hertz Investment Group is well-positioned to evolve, adapt to changes in the marketplace and to continue to fulfil the needs of its Brookhollow customers.
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Founded in 1977, Hertz Investment Group is a fully integrated real estate investment firm that acquires, markets and manages signature high-rise office properties throughout the United States. Currently, its portfolio of investment properties comprises more than 21 million square feet located in 25 cities throughout the United States. For more information, visit www.hertzgroup.com
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