Radom Secures $76M Refi for Houston Retail Center

Radom Capital has received a $76 million loan for the refinancing of Montrose Collective, a 170,000-square-foot shopping center in Houston. Commercial Edge reports the loan was a refinancing of the original construction loan. JLL Capital Markets secured the retail financing through Prime Finance.

Construction started in 2020, but Montrose Collective wasn’t completed until 2022. It features open-air courtyards, an outdoor garden room, open patios and approximately 230 parking spaces. The six-story building also includes office space on the upper floors.

At the time of the deal, the center was 98 percent leased. Tenants include the restaurants Marmo and Amano, GANNI, Gorjana, Oheya, The Chelsea, Sisu Clinic and RMA Houston.

Located at 888 Westheimer Road, the shopping center is within Houston’s Montrose neighborhood. Situated at the corner of Westheimer Road and Montrose Blvd., the property is positioned centrally between downtown, the Texas Medical Center, Rice University and River Oaks.