CIM Group Provides $127 Million Loan for 649,000-Square-Foot Office Campus in The Woodlands, Texas
HOUSTON--CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $127 million loan to The Howard Hughes Corporation to refinance a 649,406-square-foot office campus at Hughes Landing in The Woodlands, Texas.
Built in 2015, 1725 and 1735 Hughes Landing are 12- and 13-story Class A office buildings totaling 649,406 square feet within Hughes Landing, a 79-acre mixed-use development on Lake Woodlands within The Woodlands Town Center—the walkable urban core of the 28,500-acre award-winning, master planned community of The Woodlands.
Tenants have access to a variety of amenities including a fitness center, multiple conference facilities, and an employee cafeteria, in addition to the numerous retail and restaurants at the adjacent Restaurant Row.
The office campus is situated near several major highways, including Interstate-45 and the Grand Parkway, and 25 miles from George Bush Intercontinental Airport.
CIM Group applies its broad experience as an owner, operator, and developer of all types of commercial real estate to its lending strategy and believes this helps differentiate the company from many other debt providers. Through mortgage and mezzanine loans, affiliates of CIM provide bridge and construction financing to owners and developers of commercial real estate in major markets across the United States and works with borrowers to offer an array of lending solutions.
To learn more about CIM Group’s credit strategies, visit www.cimgroup.com/crecs.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.