$43.4 Million Maturity Defaulted Office Loan | Houston, TX

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller, a CMBS Special Servicer, to arrange the sale of a $43.4 million non-performing office loan (the “Loan”). The Loan is secured by a first lien position on a four-building office property in Houston, TX (the “Collateral” or “Property”). The Loan was originated in December 2014 and had an original principal balance of $50.0 million with a fixed interest rate of 4.328%. The Loan went non-performing as a result of a maturity default in January 2025. As of April 2025, the Loan has a current unpaid principal balance of $43.4 million.

The Collateral features four office buildings originally constructed in 1976 and renovated in 2014. Situated in one of Houston’s most sought-after submarkets, the property is in close proximity to an abundance of retailers. This distinctive campus blends conventional office space with specialized design facilities, creating a niche product that attracts tenants seeking alternatives to standard office product. As of April 2025, the Property was 60.4% occupied.