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Photo credit: 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.
