$33.5 million financing for 2N data center and office complex in suburban Houston secured by HFF
HOUSTON, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $33.5 million in senior financing in conjunction with the recapitalization of Westland Bunker, a 2N data center and office complex in Montgomery, a northwestern suburb of Houston, Texas.
Working on behalf of the borrower, Houston Bunker, LLC, HFF placed the loan with Sovereign Bank and Hillcrest Bank.
Westland Bunker is situated on a 50-acre campus at 550 Club Drive about 45 miles north of Houston’s central business district. This location places the asset near approximately 26 Fortune 500 headquarters, second only to New York City, and within close proximity to more than 3,700 energy-related firms including the new ExxonMobil campus. The property consists of a 19,116-square-foot, two-story, underground data center and a four-story, 61,086-square-foot office building. Westland Bunker was originally built in 1982 however since 2007 nearly $30 million of capital improvements have been made, mostly to the data center space. Overall the property is 90 percent leased to a diverse rent roll of users.
The HFF debt placement team representing the borrower was led by managing director Colby Mueck.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.