JLL’s Capital Markets experts announced today that the firm has secured $68 million to refinance the Marq*E Entertainment Center on behalf of Levcor Inc. The non-recourse floating rate loan, which was awarded by LoanCore, will provide funding to recapitalize the existing debt, as well as provide capital to continue to upgrade and improve the property.

The popular retail entertainment venue, located at Interstate 10 Katy Freeway and Silber Road, is currently 94 percent occupied and features a strong tenant mix including Dave & Buster’s, L.A. Fitness, Edwards Cinema, Chick-Fil-A, Bank of America, and Panda Express.

“The Marq*E center has consistently remained a stable asset and draws in crowds from across the city,” JLL Managing Director Jimmy Board said. “The property has previously been reconfigured and redeveloped to great success, and Levcor’s future plans to further enhance the site will be great for the tenants and the surrounding community.”

Board along with JLL’s Tom Melody, Tom Fish, and Wes Wallace led the JLL team representing Levcor in the transaction.

The Marq*E center was originally developed in 1999, with a parking garage added in 2003. The center was subsequently redeveloped to create an open-air theme that has proven to be more conducive to the center’s target clientele.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2018 alone, the firm’s 2,400 Capital Markets specialists completed nearly $180 billion in investment sale and debt and equity transactions globally.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.