FAQ: $26.6 Million Refinance of Houston's Energy Corridor Office Tower by Priority Capital Advisory

What is the significance of the $26.6 million refinance arranged by Priority Capital Advisory?

The refinance demonstrates Priority Capital Advisory’s ability to secure financing for high-quality office assets in today’s challenging environment, providing the borrower with the means to retire maturing debt and fund tenant improvements.

Who is the owner of 2 Westlake, and what has been done since its acquisition?

Younan Company, a global private equity firm, owns 2 Westlake. Since acquiring the property in December 2022, Younan has completed significant renovations, including a comprehensive lobby remodel, and has leased 56% of the asset.

Where is 2 Westlake located, and what amenities does it offer?

2 Westlake is located at 580 Westlake Park Boulevard in Houston’s Energy Corridor, offering 22,500-sf floorplates and amenities like a full-service deli, coffee bar, conference center, tenant lounge, and fitness facility.

Why is Houston’s Energy Corridor considered a desirable office submarket?

The Energy Corridor is desirable due to its institutional-quality office stock, proximity to affluent neighborhoods, expanding high-end retail and mixed-use developments, and continued infrastructure investment.

How has Priority Capital Advisory performed since its inception?

Since its inception just over a year ago, Priority Capital Advisory has closed more than $500 million in debt financing across 21 transactions, establishing a reputation for delivering liquidity solutions in challenging markets.

What types of financing solutions does Priority Capital Advisory specialize in?

Priority Capital Advisory specializes in highly structured finance solutions across the capital stack for transactions ranging from $20 million to $200 million, sourcing capital from a diverse set of providers.

What is the size and significance of Younan Company’s real estate portfolio?

Younan Company has completed $8 Billion in transactions with Assets Under Management surpassing $6.2 Billion, focusing on the acquisition and development of commercial real estate with an emphasis on luxury assets.