Accesso Partners Refinances One City Centre in Houston

April 14, 2015

post10Hallandale Beach, FL-based commercial real estate firm Accesso Partners secured refinancing for One City Centre at 1021 Main St. in downtown Houston.

Built in 1961, the 29-story, 608,660-square-foot office tower offers direct access to the METRORail-Main Street Square station and the tunnel system in the city’s central business district.

The Class A high-rise earned LEED EB Gold certification in 2010 following a renovation carried out by then-owner TIER REIT. Today, the property is 86% leased to a tenant roster that includes anchor tenants Energy XXI Services and Waste Management. The complex also includes the 758-space Once
City Centre Garage and the 611-space Fannin Garage.

Susan Hill and Michael Johnson of HFF’s debt place team arranged the financing, which consists of a 10-year, fixed-rate loan, through J.P. Morgan Chase Bank on behalf of the borrower. Proceeds from Accesso’s loan were used to pay off existing debt created from the firm’s purchase of the asset in 2012.

 

From: costar.com