Newmark Facilitates $450M Refinancing for Texas Tower, Trophy Class A Office High-Rise
Newmark has secured a $450 million refinancing loan for Texas Tower, a 47-story trophy office skyscraper in Houston, Texas. The transaction marks the first multi-tenant office tower financing outside New York City in the CMBS single-asset, single-borrower market in two years.
The 1.2 million-square-foot property, delivered in 2021, is currently 95% leased with over 500,000 square feet leased in the past year. Major tenants include Vinson & Elkins, Morgan Stanley, Cheniere Energy, and Clifford Chance. The tower, which serves as Hines's global headquarters, features premium amenities including a rooftop garden, conference center, and fitness facility.
The refinancing saw exceptional investor demand, with AAA-rated bonds being nearly five times oversubscribed and lower tranches experiencing up to 20 times oversubscription. The property has received multiple awards, including LEED® Platinum, WiredScore Platinum and WELL Platinum™ Building Standards.
Newmark ha ottenuto un prestito di rifinanziamento di 450 milioni di dollari per il Texas Tower, un grattacielo per uffici di 47 piani a Houston, Texas. La transazione segna il primo finanziamento per un grattacielo multi-inquilino al di fuori di New York City nel mercato CMBS a singolo bene e singolo mutuatario in due anni.
La proprietà di 1,2 milioni di piedi quadrati, consegnata nel 2021, è attualmente 95% affittata, con oltre 500.000 piedi quadrati affittati nell'ultimo anno. Tra i principali inquilini figurano Vinson & Elkins, Morgan Stanley, Cheniere Energy e Clifford Chance. La torre, che funge da sede globale di Hines, offre servizi premium tra cui un giardino sul tetto, un centro congressi e una palestra.
Il rifinanziamento ha visto una domanda eccezionale da parte degli investitori, con obbligazioni valutate AAA che sono state sottoscritte quasi cinque volte e le tranche inferiori hanno registrato fino a 20 volte di sottoscrizione. La proprietà ha ricevuto numerosi premi, tra cui LEED® Platinum, WiredScore Platinum e WELL Platinum™ Building Standards.
Newmark ha asegurado un préstamo de refinanciación de 450 millones de dólares para Texas Tower, un rascacielos de oficinas de 47 pisos en Houston, Texas. La transacción marca el primer financiamiento de una torre de oficinas de múltiples inquilinos fuera de la ciudad de Nueva York en el mercado CMBS de activo único y prestatario único en dos años.
La propiedad de 1.2 millones de pies cuadrados, entregada en 2021, está actualmente 95% alquilada, con más de 500,000 pies cuadrados arrendados en el último año. Los principales inquilinos incluyen a Vinson & Elkins, Morgan Stanley, Cheniere Energy y Clifford Chance. La torre, que sirve como sede global de Hines, cuenta con comodidades premium que incluyen un jardín en la azotea, un centro de conferencias y un gimnasio.
El refinanciamiento vio una demanda excepcional por parte de los inversores, con bonos calificados como AAA que fueron casi cinco veces sobreejecutados y tramos más bajos que experimentaron hasta 20 veces de sobreejecución. La propiedad ha recibido múltiples premios, incluidos LEED® Platinum, WiredScore Platinum y WELL Platinum™ Building Standards.
Newmark는 텍사스 주 휴스턴에 위치한 47층의 트로피 오피스 마천루인 Texas Tower에 대해 4억 5천만 달러의 재융자 대출을 확보했습니다. 이번 거래는 뉴욕시 외부에서 이루어진 최초의 다중 세입자 오피스 타워 금융 거래로, CMBS 단일 자산 및 단일 차입자 시장에서 2년 만에 이루어진 것입니다.
2021년에 완공된 이 120만 평방피트 규모의 부동산은 현재 95% 임대되었으며, 지난 1년 동안 50만 평방피트 이상의 임대가 이루어졌습니다. 주요 세입자로는 Vinson & Elkins, Morgan Stanley, Cheniere Energy 및 Clifford Chance가 있습니다. Hines의 글로벌 본부 역할을 하는 이 타워는 옥상 정원, 회의 센터 및 피트니스 시설 등 프리미엄 편의시설을 갖추고 있습니다.
재융자는 투자자들의 뛰어난 수요를 기록했으며, AAA 등급의 채권은 거의 5배 초과 청약되었고, 하위 트랜치는 최대 20배 초과 청약을 경험했습니다. 이 부동산은 LEED® Platinum, WiredScore Platinum 및 WELL Platinum™ 건물 기준을 포함한 여러 상을 수상했습니다.
Newmark a sécurisé un prêt de refinancement de 450 millions de dollars pour le Texas Tower, un gratte-ciel de bureaux de 47 étages à Houston, Texas. La transaction marque le premier financement d'une tour de bureaux multi-locataires en dehors de New York dans le marché CMBS d'actifs uniques et d'emprunteurs uniques depuis deux ans.
La propriété de 1,2 million de pieds carrés, livrée en 2021, est actuellement 95 % louée, avec plus de 500 000 pieds carrés loués au cours de l'année écoulée. Parmi les principaux locataires figurent Vinson & Elkins, Morgan Stanley, Cheniere Energy et Clifford Chance. La tour, qui sert de siège mondial à Hines, dispose d'équipements haut de gamme, notamment un jardin sur le toit, un centre de conférences et une salle de sport.
Le refinancement a connu une demande exceptionnelle de la part des investisseurs, avec des obligations notées AAA qui ont été presque cinq fois sursouscrites et des tranches inférieures ayant connu jusqu'à 20 fois de sursouscription. La propriété a reçu plusieurs récompenses, y compris les normes LEED® Platinum, WiredScore Platinum et WELL Platinum™.
Newmark hat ein Refinanzierungsdarlehen in Höhe von 450 Millionen Dollar für den Texas Tower, einen 47-stöckigen Bürohochhaus in Houston, Texas, gesichert. Die Transaktion markiert die erste Finanzierung eines Bürohochhauses mit mehreren Mietern außerhalb von New York City im CMBS-Markt für einzelne Vermögenswerte und einzelne Kreditnehmer seit zwei Jahren.
Die 1,2 Millionen Quadratfuß große Immobilie, die 2021 fertiggestellt wurde, ist derzeit zu 95 % vermietet, wobei im vergangenen Jahr über 500.000 Quadratfuß vermietet wurden. Zu den Hauptmietern gehören Vinson & Elkins, Morgan Stanley, Cheniere Energy und Clifford Chance. Der Tower, der als globale Hauptzentrale von Hines dient, bietet Premium-Annehmlichkeiten wie einen Dachgarten, ein Konferenzzentrum und eine Fitnesseinrichtung.
Die Refinanzierung erlebte eine außergewöhnliche Nachfrage von Investoren, wobei AAA-bewertete Anleihen nahezu fünfmal überzeichnet waren und niedrigere Tranchen bis zu 20-mal überzeichnet wurden. Die Immobilie hat mehrere Auszeichnungen erhalten, darunter LEED® Platinum, WiredScore Platinum und WELL Platinum™ Building Standards.
- Secured $450M refinancing loan
- 95% occupancy rate
- 500,000 sq ft leased in past year
- Premium tenant roster including Morgan Stanley, Cheniere Energy
- Strong investor demand with 5-20x oversubscription
- Among highest rents in Houston market
- First multi-tenant office tower financing outside NYC in 2 years indicates challenging market conditions
Insights
Newmark has successfully arranged a
The deal's exceptional execution is evidenced by overwhelming investor demand, with AAA-rated bonds being nearly five times oversubscribed and lower tranches seeing demand outstrip supply by up to 20 times. This strong interest translated to tightened pricing and superior loan terms for the property owners.
Texas Tower's impressive
For Newmark, this transaction demonstrates the firm's capability to execute complex, high-value financing deals in the premium commercial real estate segment, reinforcing their position as a leading capital markets advisor even in challenging market conditions for office properties.
"The refinancing for this award-winning property was particularly notable as it marked the first time in two years that a multi-tenant office tower outside of
Delivered in 2021, the 1.2 million-square-foot Texas Tower is s
The property, at 845 Texas Avenue, offers a state-of-the-art tenant experience aimed at maximizing productivity. Conceived as a vertically integrated campus, Texas Tower features a hospitality-inspired lobby, expansive green spaces and a wide range of sought-after tenant amenities including a rooftop garden, high-tech conference center and a modern fitness center with space for classes. Additionally, the property's location provides tenants with immediate access to an array of restaurants, entertainment venues and newly completed residential options.
Since its opening four years ago, Texas Tower has been recognized with numerous awards and certifications, including the 2023 Texas Society of Architects Award, the Houston Business Journal Landmark Award and LEED® Platinum, WiredScore Platinum and WELL Platinum™ Building Standards.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of nearly
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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