Update: Sale closes on BLVD PlaceUpdate: Sale closes on BLVD Placehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=167222017-05-31T05:00:00Z2017-05-31T20:30:00Z

​​​Frost Bank at BLVD PlaceHOUSTON – Whitestone REIT has closed on its acquisition of BLVD Place, the Whole Foods-anchored mixed-use development along Post Oak Blvd. in Uptown.

The company spent $158 million, funded through cash and $80 million of financing, according to the latest public filing.

The 216,944-sf center is 99.2 percent leased.

Included in the purchase is 1.43 acres of land where the company plans to develop another mixed-use building.

The company's plans to add more space include a six-story, 136,930-sf building with 46,000 sf of retail space on the first two floors and 91,000 sf of office space on the top four floors.

Whitestone received a non-recourse, interest-only loan from American General Life Insurance Co. that matures on July 1, 2027 and accrues interest at a fixed interest rate of 3.72 percent per year.​​

Houston Chronicle
Houston-The Woodlands-Sugar Land

​Related: How much cash for Houston Blvd Place; McKinney Eldorado Plaza?

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