{"id":1004082639,"date":"2013-08-26T06:24:27","date_gmt":"2013-08-26T14:24:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004082639"},"modified":"2022-12-08T22:51:23","modified_gmt":"2022-12-09T06:51:23","slug":"metlife-extends-235m-in-financing-for-974-ksf-houston-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/metlife-extends-235m-in-financing-for-974-ksf-houston-office-building\/","title":{"rendered":"MetLife Extends $235M in Financing for 974 KSF Houston Office Building"},"content":{"rendered":"<p><i>By Scott Baltic, Contributing Editor<\/i><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004082750\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/metlife-extends-235m-in-financing-for-974-ksf-houston-office-building\/hines-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg\" data-orig-size=\"533,800\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"HINES\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg?w=533\" class=\"alignleft size-medium wp-image-1004082750\" alt=\"HINES\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg\" width=\"199\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg 533w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/HINES.jpg?resize=200,300 200w\" sizes=\"auto, (max-width: 199px) 100vw, 199px\" \/><\/a><\/p>\n<p>The real estate investments department of MetLife Inc., New York, has closed a $235 million loan secured by BG Group Place, on a 973,800-square-foot office high-rise in downtown Houston, for a partnership advised by Invesco Real Estate, MetLife announced Thursday.<\/p>\n<p>The 46-story building, at 811 Main St., is the newest Class A office tower in Houston\u2019s CBD and is LEED Platinum certified.<\/p>\n<p>The borrower was BG Holdco L.L.C., and the 10-year loan closed on July 11, a MetLife Investments spokesperson told <i>Commercial Property Executive<\/i>.<\/p>\n<p>BG Holdco has been the building\u2019s owner since around May, a spokesperson for Hines told <i>CPE<\/i>. Hines was the building\u2019s developer and its currently its manager.<\/p>\n<p>The previous owner was HC Green Development Fund Limited Partnership, a limited partnership between the California Public Employees\u2019 Retirement System (CalPERS), as a limited partner, and Hines HCG Associates Limited Partnership, as general partner.<\/p>\n<p>\u201cThe BG Group Place investment aligns well with our overall commercial real estate strategy and allows MetLife to grow in a key market for us,\u201d Robert Merck, senior managing director and head of real estate investments for MetLife, said in a release.<\/p>\n<p>The transaction was led by Chad McKenney and John Hall from MetLife\u2019s Dallas regional office.<\/p>\n<p>BG Group Place has 36 floors of office space, 10 floors of above-ground parking and two further levels of parking below grade. There are approximately 960,000 square feet of office space and 12,000 of retail.<\/p>\n<p>Among the building\u2019s green features are a garage rooftop garden and a skygarden on level 39, as well as 10-foot ceilings with nearly floor-to-ceiling glass to let in more natural light.<\/p>\n<p>BG Group plc. became the building\u2019s name tenant by signing a lease for 164,000 square feet in October 2010, before the building\u2019s completion in February 2011. The company is a U.K.-based oil and gas multinational and the largest supplier of liquefied natural gas to the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate investments department of MetLife has closed a $235 million loan secured by BG Group Place, a 973,800-square-foot office high-rise in downtown Houston, for a partnership advised by Invesco Real Estate. <\/p>\n","protected":false},"author":882,"featured_media":1004082750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,1589,21783,21742,21747],"tags":[],"class_list":["post-1004082639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-houston","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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