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September 11, 2020 Comments Off on GenCap Sells Four-Building Office Campus in NW Houston Views: 425 Houston-Galveston, Texas News

GenCap Sells Four-Building Office Campus in NW Houston

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JLL Capital Markets closed the sale and financing of Chasewood Technology Park, a four-building office campus totaling 463,969 square feet in northwest Houston. 
 
JLL represented the seller, The GenCap Group, and procured the buyer, Nitya Capital. Additionally, JLL worked on behalf of the buyer to secure a $46-million loan through Morgan Stanley.
 
The JLL team representing the seller was led by Rick Goings and Ethan Goldberg. Financing efforts were led by JLL’s John Ream and Laura Sellingsloh.
 
“This portfolio is among the first large office trades to occur in the Houston market since COVID-19 hit the U.S.,” Goings said. “The pandemic created numerous challenges in bringing this deal across the finish line, but we had the right assets, the right tenancy and the right buyer to get it done. The prior owners did a great job in positioning these buildings to withstand macro-economic events and Nitya understood that value proposition.”
 

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