PRIME LOCATION - The Collateral is located within the Greenpoint/IAH submarket, just 20 minutes north of Downtown Houston and 5 minutes to George Bush Intercontinental Airport.
CONVENIENT ACCESS - Located near major highways such as Beltway 8, Interstate 45, US Highway 59 & Hardy Toll Road, the Collateral features convenient access to Kingwood, Humble & The Woodlands neighborhoods.
BUILDING AMENITIES - The property is serviced by a 5-story parking garage with 940 covered spaces. Additional amenities include card-key access, 24-hour availability, atrium, conference facilities, courtyard, on-site management, and energy star labeled.
Jones Lang LaSalle and RealINSIGHT Marketplace are pleased to present the opportunity to acquire a $9,725,000 modified loan (the “Loan”) secured by a first-lien deed of trust on the fee simple interest in a two-building, 268,760 SF office property in Houston, TX (the “Collateral”). Originated in April 2013 in the amount of $12,750,000, the Loan has been modified several times, most recently in January 2020. Under the terms of the modification, the interest-only Loan was extended to mature in March 2024. While the Loan accrues interest at 5.00%, the current pay rate is 2.00%. The rate is scheduled to step up 1.00% annually on February 1st until maturity.
The Collateral consists of a 6-story office building totaling 113,803 SF and an 8-story building totaling 154,957 SF. As of March 2021, the Collateral was 56% occupied. The Collateral enjoys direct access to George Bush International Airport along John F Kennedy Boulevard.
This Offering provides investors with the opportunity to acquire a restructured loan secured by a high-quality office property in a major market.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.