Collateral for the Loan consists of a Class B office building located in a premier office park in the Houston Energy Corridor (the “Property,” or the “Collateral”). The Property features expansive, flexible floor plates and an assortment of building amenities, including a food court, controlled access, banking, on-site security, reception area and three-level parking garage. It also benefits from being in close proximity to major regional thoroughfares as well as numerous entertainment, dining and housing options that appeal to corporate tenants. The Loan presents investors with a prime opportunity to acquire a note at an attractive basis secured by a well-located office building that has tremendous value-add upside potential.
Jones Lang LaSalle (“JLL”) has been exclusively retained to offer qualified investors the opportunity to acquire a $5.025 million first mortgage loan (the “Loan”). The Loan was originated in October 2010 and structured with a 5.95% fixed rate (12.95% default rate) and a ten-year term. It matured on October 1, 2020 and continues to be non-performing.