Houston, Texas – The Commercial Loans news today is from the economically strong area of Houston, Texas. There was a commercial real estate acquisition and a major Commercial Loan was arranged. This Commercial Loan will be covered with three Office Buildings in the Houston Galleria area. The Houston Galleria is an upscale mixed-use urban development that has a premier location in the Uptown District of Houston.
The mixed-use development consists of a successful retail shopping center, net lease properties and the Galleria Office Towers complex. This Houston Galleria sub-market also contains two Westin hotels, and a private health club. The two comfortable Westin hotels have over 890 rooms for visitors in the Houston area. The Commercial Loan Collateral, the office buildings and hotels are separately owned from the Galleria retail shopping center.
Commercial Mortgage Lenders have arranged a qualified $130 million commercial loan. The Borrower for the Commercial Loan was Unilev Capital Corporation. The Commercial Mortgage Lenders were able to get a 10-year commercial loan with a fixed-rate. Unilev Capital Corporation has plenty of experience for paying down Commercial Loans. Unilev Capital Corporation acquired these three high-profile office buildings for $176 million. Commercial Loans are available for 1031 Exchange financing if swapping one Office Building to three Office Buildings.
The Commercial Loan collateral, three office buildings have parking for approximately 12,657 cars. The Galleria (West Loop) office submarket is located approximately five miles west of downtown Houston. The net leased properties designed for Office space is currently 90% leased. The Commercial Loan collateral leases to Air Liquide, Southern Union, Merrill Lynch, Citigroup Global Markets, Banco Santander and BBVA Bancomer. Another prestigious net lease Tenant is UBS. UBS is an outstanding global financial services firm which offers wealth management, investment banking services, asset management and business banking services.
The buyer of the Office Buildings was Unilev Capital Corporation. As mentioned above, Unilev Capital Corporation has experience in obtaining commercial loansas they were founded in 1992. Unilev Capital Corporation is headquartered in Beverly Hills, California, and they have with affiliate offices in Texas, Colorado, Minnesota and New York. Unilev Capital Corporation is a privately held commercial real estate investment organization. Unilev Capital Corporation will partner up with a qualified, limited group of affiliated entities to acquire well-located, steady income-producing commercial properties with long-term, successful investment potential.
The seller of this Commercial Loan collateral is Walton Street Capital, L.L.C. This Company, Walton Street Capital is a private equity commercial real estate investment firm. Walton Street Capital started in 1994, since then affiliates of Walton Street Capital have received total equity commitments of over $5.5 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations. Also Walton Street Capital has private equity commitments from various trusts, and high net worth individuals.
Unilev Capital Corporation is the third investor – owner of these net leased Office Buildings as they were developed in the 1970′s. These Texas net leased properties for Office space were developed by Houston-based Hines. The Commercial Loan collateral consists of a total of 1.1 million square feet of Office space described as:
• The 25-story Galleria I at 2700 Post Oak Boulevard, which is anchored by the U.S. headquarters of Air Liquide
• The 22-floor Galleria Tower II Commercial Loan collateral located at 5051 Westheimer, and has this building’s largest tenant as Southern Union Co., which is on the New York Stock Exchange (NYSE)
• The seven-story Galleria Financial Center located at 5065-5075 Westheimer. This commercial property has exceptional net lease tenants as it is anchored by UBS and Merrill Lynch. This office building sits on top of the Galleria mall and owns two addresses because it includes two offices separated by a beautiful atrium.
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