CIM Group Provides $ 127 Million Loan for 649,000 Square Foot Office Campus in Woodlands, Texas | News

HOUSTON – (BUSINESS WIRE) – January 10, 2022–

CIM Group, a community-driven owner, operator, lender and developer of infrastructure and real estate, today announced that a CIM-managed fund has entered into a $ 127 million loan to The Howard Hughes Corporation for refinance a 649,406 square foot office campus in Hughes. Landing in the Woodlands, Texas.

Built in 2015, 1725 & 1735 Hughes Landing are 12- and 13-story Class A office buildings totaling 649,406 square feet within Hughes Landing, a 79-acre mixed-use development on Lake Woodlands in downtown of Woodlands, the pedestrianized urban core of the award-winning and planned 28,500 acre community of The Woodlands.

Tenants have access to a variety of amenities, including a fitness center, several conference rooms and an employee cafeteria, in addition to the numerous retail outlets and restaurants in the adjacent Restaurant Row.

The office campus is located near several major freeways, including Interstate-45 and the Grand Parkway, and 25 miles from the George Bush Intercontinental Airport.

CIM Group applies its extensive experience as owner, operator and developer of all types of commercial real estate to its lending strategy and believes this helps differentiate the company from many other debt providers. Through mortgages and mezzanine loans, CIM affiliates provide bridge and construction finance to commercial real estate owners and developers in major US markets and work with borrowers to offer a range of solutions. loan.

To learn more about CIM Group’s credit strategies, visit www.cimgroup.com/crecs.

About the CIM Group

CIM is a community-driven owner, operator, lender and developer of infrastructure and real estate. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by completing more than $ 60 billion in critical real estate and infrastructure projects. CIM’s diverse team of experts apply their vast knowledge and disciplined approach to the hands-on management of real assets, from due diligence to transactions to divestiture. CIM strives to make a meaningful difference in the world by implementing key environmental, social and governance (ESG) initiatives and improving every community in which it invests. For more information, visit www.cimgroup.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/2020110005642/en/

CONTACT: Karen Diehl

Diehl Communications

310-741-9097

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: FINANCE OTHER CONSTRUCTION AND REAL ESTATE PROFESSIONAL SERVICES BUILDING COMMERCIAL AND REAL ESTATE CONSTRUCTION AND PROPERTY

SOURCE: CIM Group

Copyright Business Wire 2022.

PUB: 01/10/2022 09:14 / DISC: 01/10/2022 09:14

http://www.businesswire.com/news/home/20220110005642/en

Copyright Business Wire 2022.

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