JLL’s Capital Markets experts today announced the firm has completed the recapitalization of CityCentre Five, a Class A 15-story office building located at 825 Town & Country Lane.
JLL’s Kevin McConn, Rudy Hubbard, Rick Goings, and Michael Zietsman represented the owner, Midway Companies. A majority interest in the property was purchased by Lionstone Investments on behalf of a client for an undisclosed price. Midway will continue to manage the property on behalf of the new venture.
Located in one of Houston’s premier mixed-used developments, CityCentre Five is a world-class, newly constructed office building with approximately 200,000 square feet of rentable space. It is one of five office buildings in the CityCentre portfolio and is more than 95 percent leased.
“This is a world-class property in a prime location that offers tenants a unique mixed-use atmosphere with an abundance of amenities,” McConn said. “Like the other CityCentre buildings, CityCentre Five is achieving the highest rents in the city outside of the Central Business District due to all these dynamics.”
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 investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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 nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
