PGIM Arranges $240M Acquisition Loan for Houston’s BofA Tower

PGIM Real Estate Finance arranged $240 million in acquisition financing for the Bank of America Tower. The financing was arranged for a joint-venture partnership between Beacon Capital Partners, Skanska U.S.A and an institutional investor. Skanska entered into an agreement to sell 90% of its interest in the asset, located at 800 Capital St. in Houston’s central business district.

“This newly-developed trophy asset has set a new standard for incorporating high-end amenities into an office property that allow corporate tenants to offer employees areas for collaboration and leisure, without having to sacrifice their traditional workspace,” said PGIM’s Tom Goodsite, who led the transaction on the firm’s behalf. “We were glad to have had the opportunity to work with the buyers on this transaction and accommodate an accelerated closing timeline of just 11 days.”

Eastdil Secured led the financing assignment.

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