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Younan Properties Refis 440K-SF North Belt Portfolio in Houston

Younan Properties, Inc. refinanced three office properties in Houston, including Greenbriar Place (pictured), Bridgewood I and Bridgewood II. The suburban assets total 440,000 square feet, and are known as the North Belt portfolio.

Churchill Commercial Capital’s Richard Perry placed the three-year fixed rate loan with Money360. The amount of the loan was not disclosed.

Younan Properties’ Zaya S. Younan says, “The loan with Money360 replaces existing debt with attractive financing, enabling us to de-leverage the asset by 15% and separately fund several million dollars in reserves for future tenant improvements and commissions, as we continue our efforts to improve occupancy in the portfolio.”

Located along the Sam Houston Parkway E. in the Greenspoint/North Belt Submarket in North Houston, the properties offer access to Interstate 45, Beltway 8 and the Hardy Toll Road.

Money360’s Gary Bechtel says, “The refinancing allowed the borrower to replace the expired facility while maintaining profitable cash-flow.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing