November 18, 2019
Partners Lionstone Investments and Midway Companies secured a loan totaling $140 million to refinance its mixed-used GreenStreet. The 617,000-square-foot project, located in Houston’s central business district, has office, retail and entertainment components, along with the 223-room Hotel Alessandra.
Colby Mueck, Matthew Putterman and Laura Seeingsloh with JLL represented the borrow in securing the loan, which was provided by Blackstone Real Estate Debt Strategies. The sponsors are underway with a multimillion-dollar capital improvement plan, which will include wayfinding improvements, opening up central corridors to enhance visibility. A two-story lobby is also under construction.
GreenStreet, formerly known as Houston Pavilions, is at 1201 Fannin St., and houses notable tenants including House of Blues, Guadalajara and AT&T SportsNet. The property owners recently executed a 15-year, 108,000-square-foot lease with Life Time, which will feature a diamond-level fitness resort, spa, café, and the company’s new co-working concept, Life Time Work.
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