OFFICE BUILDINGS IN THE WOODLANDS RECEIVE $55 MILLION FINANCING

THE WOODLANDS — The Woodlands Development Co. has secured a $55 million loan for two office buildings, the 216,000-square-foot 4 Waterway Square and the 95,078-square-foot 9303 New Trails, located in The Woodlands. Both properties are well-occupied — 4 Waterway Square is 98.8 percent leased and 9303 New Trails is fully leased. The Woodlands Development Co. arranged the 12-year loan through Prudential Mortgage Capital Co. on behalf of Dallas-based The Howard Hughes Corp. The loan will refinance a maturing construction loan at 9303 New Trails.