Priority Capital Secures $26.6M Refinance for Houston's 2 Westlake Tower

Priority Capital Advisory, a leading boutique debt and equity advisor, has successfully arranged a $26.6 million bridge refinance for 2 Westlake, a prestigious 467,609-square-foot Class A office tower in Houston’s Energy Corridor. This significant financial maneuver was executed on behalf of Younan Company, a global private equity firm known for its strategic real estate investments. The property, acquired in December 2022 for $21.55 million, has undergone extensive renovations and is now 56% leased, showcasing strong leasing momentum. Zachary Streit, Founder and President of Priority Capital Advisory, highlighted the challenges of refinancing in the current market and the firm's success in securing a lender that believed in the asset's potential. The refinancing not only allows for the retirement of maturing debt but also funds tenant improvements, ensuring the asset's stabilization and future growth.

Located in the heart of Houston’s Energy Corridor, 2 Westlake benefits from its strategic position along Interstate 10, offering modern amenities and spacious floorplates. The Energy Corridor continues to attract major energy companies, bolstered by its high-quality office stock and proximity to affluent neighborhoods. Priority Capital Advisory's achievement in this transaction underscores its expertise in navigating complex capital markets, having closed over $500 million in debt financing across 21 transactions since its inception. This deal not only reinforces the firm's reputation but also highlights the enduring appeal and dynamism of Houston’s Energy Corridor as a prime office submarket.