News
Lenders Look To Strong Woodlands Retail Center
Courtesy of JLL
Market Street, The Woodlands
JLL’s capital markets team led by executive managing director Tom Melody and senior vice president John Ream secured a $175M refi on Market Street, a 493K SF mixed-use asset in The Woodlands. Morgan Stanley and Wells Fargo partnered to provide the fixed-rate loan to Institutional Mall Investors.
The 376K SF of retail space is anchored by H-E-B and Cinemark with other notable tenants like Tiffany & Co. and Tesla Motors. The asset has more than 80 retail tenants. A 70-key Hyatt Centric hotel serves as a shadow anchor. The asset also has roughly 115K SF of office space.
“Institutional ownership and a very strong tenant base made this a great lending opportunity,” Melody said.
