Investment Type: Senior Loan
Property Description: Office Refinancing
Loan Amount: $28MM
MRC originated a $28MM first mortgage loan collateralized by a six-story Class A, 191,676 GSF medical office building located on a 3.95-acre site in The Heights neighborhood of Houston, TX.
The Borrower plans to complete lease-up and associated tenant improvement work over the course of 12 months.
The Property has 309 parking spaces across four separate lots, and is currently 95.4% leased to three medical tenants.