515-Post-Oak-Houston

New York Life Provides $44.5M Bridge Loan for Houston Office Property

by Taylor Williams

HOUSTON — New York Life Real Estate Investors has provided a $44.5 million bridge loan for 515 Post Oak, a 274,848-square-foot, 12-story office property located in the Galleria area of Houston. The Class A property, which offers access to Interstates 610 and 69, was renovated in 2012 and includes a four-story parking garage, fitness center and a full-service deli. Proceeds will be used to meet the lease-up objectives of the owner and borrower, Spear Street Capital. Other loan terms were not disclosed.

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