$77.5 Million Non-Performing Office Loan
US - Washington, DC
CHF 70,792,000 | 28,508 m²
JLL Capital Markets, as exclusive advisor to the owner, is pleased to present for sale a 100% fee simple interest in Phoenix Tower (“the Property”), a 630,594 SF landmark Class A office building in Houston’s premier Greenway Plaza submarket. At 80.8% leased and with 6.9 years of WALT, Phoenix Tower offers the unique opportunity to acquire an incredibly located institutional quality real estate with robust contractual cash flows and minimal lease-up requirements. Phoenix Tower is equipped with market leading onsite amenities including a fitness center, deli, and a private, half-acre outdoor sky terrace complete with a reflection pond and outdoor seating. The Property’s expansive amenity base is enhanced by walkability of Greenway Plaza. Phoenix Tower has seen strong recent leasing momentum with over 200,000 square feet of leasing done in the past 12 months, creating compelling near term upside potential by capitalizing on the Property’s institutional quality and irreplaceable location, and completing the on-going lease up.