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Chase Tower, Houston
With the state of capital markets, particularly in Houston, a large financing deal is sure to raise eyebrows. JLL's capital markets team secured a total of $450M of financing to recapitalize Chase Tower and Chase Center, two Class-A office properties Downtown. MetLife provided a fixed-rate senior mortgage while JPMorgan provided mezzanine financing for a term of 11 years. Executive managing director Tom Melody and SVP John Ream led the JLL team. The 75-story Chase Tower is Houston’s tallest building and combined with the 20-story Chase Center, totals approximately 2.4M SF.
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