Howard Hughes Holdings Inc. closed on the refinancing of 9950 Woodloch Forest Drive, the 601,000-square-foot Class A office tower in The Woodlands. The five-year, non-recourse $130 million loan bears interest at a fixed rate of 7.075% and amortizes on a 30-year schedule. The high-rise at 9950 Woodloch Forest Drive is 31 stories high and is part of The Woodlands Towers at the Waterway office campus.

“9950 Woodloch Forest Drive was empty when we acquired it just before the pandemic, and the fact that the building is now 98% leased speaks to the strong demand we are seeing for office and commercial space in The Woodlands, where 90% of our office portfolio is leased,” said Hughes’s Carlos Olea. Other tenants at the property include McKesson Specialty Health and Lancium Technologies Corp.

The company acquired the asset from Occidental Petroleum Corp. in 2019 as part of a $565 million portfolio deal.