{"id":1004191081,"date":"2017-09-22T08:00:09","date_gmt":"2017-09-22T16:00:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004191081"},"modified":"2022-12-03T07:23:41","modified_gmt":"2022-12-03T15:23:41","slug":"m-m-properties-lands-refi-loan-for-houston-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/m-m-properties-lands-refi-loan-for-houston-tower\/","title":{"rendered":"M-M Properties Lands Refi Loan for Houston Tower"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004191096\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004191096\" data-attachment-id=\"1004191096\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/m-m-properties-lands-refi-loan-for-houston-tower\/700-louisiana\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;14&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1222112219&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;78&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;2&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"700 Louisiana\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;700 Louisiana&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg?w=800\" class=\"wp-image-1004191096 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg\" alt=\"700 Louisiana\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004191096\" class=\"wp-caption-text\">700 Louisiana<\/p><\/div>\n<p>M-M Properties, in partnership with an institutional capital partner, tapped HFF to secure a refinancing loan for 700 Louisiana, a Phillip Johnson and John Burgee-designed office tower in Houston&#8217;s central business district.<\/p>\n<h2>Iconic Houston Asset\u00a0<\/h2>\n<p>The 56-story, 1.2 million-square-foot building is currently 90 percent leased. Notable tenants include ANR, Bank of America, Ziegler Cooper Architects, Deutsche Bank and several law and financial services firms. With its gabled roofline, the high-rise is one of the most recognizable buildings on Houston\u2019s skyline and is considered an architectural icon. The LEED Gold certified asset was built in 1983 and features 3,750 parking spaces.\u00a0<\/p>\n<p><em>\u201cRefinancing an iconic asset is always a time-intensive, detailed process.\u00a0<\/em><em>The entire team deserves great credit for their professionalism and tenacity in completing this transaction during Houston\u2019s recent weather event,\u201d\u00a0<\/em>said Ken Moczulski, founder\u00a0&amp;\u00a0CEO of M-M Properties, in prepared remarks.<em>\u00a0&#8220;Fortunately, the storm had a very minor impact on office operations. We were back to business within a day of power restoration. The proceeds from the refinancing allow us to execute a lobby reconfiguration to activate the old Western Union building, adding 35,000 square feet to the market and incorporate a white tablecloth restaurant. This will have a significant impact on asset value.\u201d<\/em><\/p>\n<p>The HFF debt placement team of Senior Director Cameron Cureton and Senior Managing Director John Brownlee represented the borrower.\u00a0<\/p>\n<p>Earlier this year, M-M Properties partnered with Cushman &amp; Wakefield to secure two new leases at Sawgrass International Corporate Park\u00a0in Florida, totaling 35,000 square feet of <a href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-secures-two-new-office-leases\/\">office space<\/a>.\u00a0<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Designed by Phillip Johnson and John Burgee, the 56-story, 1.2 million-square-foot 700 Louisiana is currently 90 percent leased. HFF secured the loan on behalf of the borrower. <\/p>\n","protected":false},"author":746,"featured_media":1004191096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1589,21742,21747],"tags":[32799,32792,32779,34715,34880],"class_list":["post-1004191081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-houston","category-latest","category-office","tag-cushman-wakefield","tag-hff","tag-leed","tag-m-m-properties","tag-starwood-capital-group"],"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>M-M Properties Lands Refi Loan for Houston Tower - 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\/m-m-properties-lands-refi-loan-for-houston-tower\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M-M Properties Lands Refi Loan for Houston Tower\" \/>\n<meta property=\"og:description\" content=\"Designed by Phillip Johnson and John Burgee, the 56-story, 1.2 million-square-foot 700 Louisiana is currently 90 percent leased. HFF secured the loan on behalf of the borrower.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/m-m-properties-lands-refi-loan-for-houston-tower\/\" \/>\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=\"2017-09-22T16:00:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T15:23:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/700-Louisiana.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\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\\\/m-m-properties-lands-refi-loan-for-houston-tower\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-m-properties-lands-refi-loan-for-houston-tower\\\/\"},\"author\":{\"name\":\"IvyLee Rosario\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f2094ece0e063845f848c7f1c7b84780\"},\"headline\":\"M-M Properties Lands Refi Loan for Houston Tower\",\"datePublished\":\"2017-09-22T16:00:09+00:00\",\"dateModified\":\"2022-12-03T15:23:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-m-properties-lands-refi-loan-for-houston-tower\\\/\"},\"wordCount\":272,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/m-m-properties-lands-refi-loan-for-houston-tower\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/09\\\/700-Louisiana.jpg\",\"keywords\":[\"Cushman &amp; 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