Priority Capital Advisory Secures $26.6 Million Refinance for Houston's Energy Corridor Office Tower

Priority Capital Advisory has facilitated a $26.6 million bridge refinance for 2 Westlake, a 467,609-square-foot Class A office tower located in Houston's Energy Corridor. This financial maneuver was executed on behalf of Younan Company, a global private equity firm, underscoring the property's value and the corridor's appeal to investors and tenants alike.

Since its acquisition by Younan Company in December 2022 for $21.55 million, 2 Westlake has undergone significant renovations, including a comprehensive lobby remodel, elevating its status in the competitive office market. Currently, the property is 56% leased, with strong leasing momentum indicating a bright future for this asset.

Zachary Streit, Founder and President of Priority Capital Advisory, remarked on the challenges of refinancing an office asset in the current economic climate. The firm engaged over 100 capital providers before securing a lender confident in the asset's potential, the sponsor's business plan, and the Energy Corridor's enduring strength. This refinancing allows for the retirement of maturing debt, funding of tenant improvements, and stabilization of the newly renovated property.

Located along Interstate 10, 2 Westlake offers 22,500-sf floorplates and a suite of amenities, including a full-service deli, coffee bar, and fitness facility, making it a standout option for businesses seeking premium office space. The Energy Corridor's resurgence, driven by its high-quality office stock and proximity to affluent neighborhoods, further enhances the property's attractiveness.

Priority Capital Advisory's achievement in arranging this refinance is a testament to the firm's expertise and the vibrant future of Houston's Energy Corridor as a key office submarket. For more information on Priority Capital Advisory, visit https://www.prioritycapitaladvisory.com.