{"id":1004749034,"date":"2025-02-28T04:52:51","date_gmt":"2025-02-28T12:52:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004749034"},"modified":"2025-04-08T03:42:36","modified_gmt":"2025-04-08T11:42:36","slug":"hines-ivanhoe-land-450m-refi-for-houston-trophy-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-450m-refi-for-houston-trophy-tower\/","title":{"rendered":"Hines, Ivanho\u00e9 Land $450M Refi for Houston Trophy Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"1262\" data-attachment-id=\"1004749156\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-land-450m-refi-for-houston-trophy-tower\/texas-tower_002\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg\" data-orig-size=\"1200,1262\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Texas-Tower_002\" data-image-description=\"&lt;p&gt;Image received vie e-mail from Newmark&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 47-story Texas Tower was 95 percent leased at the time of the deal. Image courtesy of Newmark&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?w=974\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg\" alt=\"\" class=\"wp-image-1004749156\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=285,300 285w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=768,808 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/Texas-Tower_002.jpg?resize=974,1024 974w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">The 47-story Texas Tower was 95 percent leased at the time of the deal. <em>Image courtesy of Newmark<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The joint venture of Hines and Ivanho\u00e9 Cambridge has received $450 million in refinancing for Texas Tower, a 1.2 million-square-foot high-rise in Houston. Wells Fargo and Morgan Stanley provided the loan package, in a deal arranged by Newmark on behalf of the owners.<\/p>\n\n\n\n<p>The 47-story building came online in 2021 with the aid of a $317.6 million construction loan provided by New York Life Insurance Co. back in 2018, CommercialEdge shows. At that time, Texas Tower was the <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-ivanhoe-cambridge-top-out-texas-tower\/\">largest office project<\/a> under construction in Houston. The property later became subject to a four-year $267 million note, originated by Ivanho\u00e9 Cambridge in 2023, according to the same source.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-leed-platinum-certified-buildings-in-the-u-s\/\">Top 5 LEED Platinum-Certified Buildings in the US<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>This loan marks the first time in two years when a multi-tenant office building outside New York City has secured financing in the CMBS single-asset, single-borrower market, Newmark Co-President Jonathan Firestone said in prepared remarks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-high-rise-in-downtown-houston\">A high-rise in downtown Houston<\/h2>\n\n\n\n<p>Located at 845 Texas Ave., Texas Tower is in Houston&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/cbds-get-new-life\/\">central business district<\/a> and has access to interstates 45 and 10. The George Bush Intercontinental Airport is some 20 miles away.<\/p>\n\n\n\n<p>The building was 95.0 percent leased at the time of the deal and serves as Hines&#8217; global headquarters. Its tenant roster also includes Vinson &amp; Elkins, Morgan Stanley, Cheniere Energy Inc. and Clifford Chance, among others.<\/p>\n\n\n\n<p>The LEED Platinum-certified Texas Tower features floorplates ranging between 30,438 and 31,255 square feet, 24 passenger elevators and 1,500 car parking spaces. Amenities include a conference center, rooftop garden and fitness center.<\/p>\n\n\n\n<p>Newmark Co-Heads of Global&nbsp;Debt &amp; Structured Finance&nbsp;Jordan Roeschlaub&nbsp;and&nbsp;Jonathan Firestone, Vice Chairmen&nbsp;Clint Frease&nbsp;and&nbsp;Blake Thompson, Managing Director&nbsp;Travis Bailey, Director&nbsp;Peter Mavredakis&nbsp;and Associate Director&nbsp;Tim Polglase&nbsp;secured the financing package.<\/p>\n\n\n\n<p>Newmark landed the number one position in <em>Commercial Property Executive<\/em>&#8216;s 2025 <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-mortgage-lenders-and-brokerage-firms\/\">top commercial mortgage brokers<\/a>. The firm provided loans totaling more than $48.4 billion during the 12 months ending in September 2024 and increased its originations volume by 79.6 percent year-over-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wells Fargo and Morgan Stanley provided the loan.<\/p>\n","protected":false},"author":3619,"featured_media":1004749128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1589,21742,21747,51973],"tags":[32797,33565,32774,50999,33277],"class_list":["post-1004749034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-houston","category-latest","category-office","category-southwest","tag-hines","tag-ivanhoe-cambridge","tag-morgan-stanley","tag-newmark","tag-wells-fargo"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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