{"id":1004127681,"date":"2015-09-17T12:35:43","date_gmt":"2015-09-17T20:35:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=360856"},"modified":"2022-12-09T01:08:45","modified_gmt":"2022-12-09T09:08:45","slug":"berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\/","title":{"rendered":"Berkadia Paves Way for Equus to Snap Up Southwest Houston Office Building"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Anca Gagiuc, Associate Editor<\/em><\/p>\n<div id=\"attachment_360857\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Comerica-Bank-Building-Sugar-Land.png\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-360857\" title=\"Comerica Bank Building Sugar Land\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Comerica-Bank-Building-Sugar-Land.png\" alt=\"Comerica Bank Building Sugar Land\" width=\"300\" height=\"244\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Comerica Bank Building, Sugar Land<\/p>\n<\/div>\n<p style=\"text-align: justify\"><a href=\"https:\/\/www.berkadia.com\/default.aspx\">Berkadia<\/a> has arranged $21.9 million in financing for One Sugar Creek Center, the Comerica Bank Building.<\/p>\n<p style=\"text-align: justify\">Senior directors Corby Chaffin and Steve Comly of the Houston and Philadelphia offices, respectively, secured the fixed-rate loan through a relationship with a life insurance company. Jared Chua and Bernard Branca of CBRE\u2019s Investment Properties \u2013 Institutional Group in Houston represented the seller.<\/p>\n<p style=\"text-align: justify\">Berkadia originated the financing for Equus Investment Partnership IX LP, a discretionary fund managed by <a href=\"https:\/\/www.equuspartners.com\/\">Equus Capital Partners Ltd.<\/a> At the time of the closing, the property was 89 percent occupied.<\/p>\n<p style=\"text-align: justify\">Built in 1983, the 193,988-square-foot, 11-story building sits on 4.5 acres at 1 Sugar Creek Center Blvd., along the north side of US-59 at the intersection with South Dairy Ashford Road. The property has easy access across the greater Houston Metro area due to its location just one-half mile south of US Highway 90A, two miles from State Highway 6, and four miles from Beltway 8.<\/p>\n<p style=\"text-align: justify\">Property amenities include surface parking and an attached four-level parking garage. The on-site conveniences include a deli and a full-service banking facility.<\/p>\n<p style=\"text-align: justify\">\u201cThis transaction provides the opportunity to acquire a best-in-class suburban office asset in a location with an expanding array of amenities, along with \u00a0excellent access to the vast and desirable Houston employment base,\u201d said Kyle Turner, director of investments for Equus Capital Partners, who along with senior vice president Roy Perry\u00a0oversaw the acquisition. \u201cWith our plans for significant capital upgrades and an added amenity package, we are confident that the Comerica Bank Building will be an even more highly sought after location.\u201d<\/p>\n<p style=\"text-align: justify\">Planned upgrades include the addition of a tenant lounge, conference center, and a common area with Wi-Fi and a concierge. Further capital improvements and renovations will target the lobby, restrooms and common areas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Berkadia has arranged $21.945 million in financing for an office property located in Sugar Land, Texas.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[],"class_list":["post-1004127681","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Berkadia Paves Way for Equus to Snap Up Southwest Houston Office Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Berkadia Paves Way for Equus to Snap Up Southwest Houston Office Building\" \/>\n<meta property=\"og:description\" content=\"Berkadia has arranged $21.945 million in financing for an office property located in Sugar Land, Texas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-09-17T20:35:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:08:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/09\/Comerica-Bank-Building-Sugar-Land.png\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Berkadia Paves Way for Equus to Snap Up Southwest Houston Office Building\",\"datePublished\":\"2015-09-17T20:35:43+00:00\",\"dateModified\":\"2022-12-09T09:08:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/\"},\"wordCount\":309,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/09\\\/Comerica-Bank-Building-Sugar-Land.png\",\"articleSection\":[\"Houston\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/berkadia-paves-way-for-equus-to-snap-up-southwest-houston-office-building\\\/\",\"name\":\"Berkadia Paves Way for Equus to Snap Up Southwest Houston Office Building - 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