Jones Lang LaSalle Incorporated : JLL arranges $42M loan for mixed-use project in College Station

HOUSTON, October 3, 2019 - JLL announced today that it has arranged a $42 million refinancing for Century Square, a 60-acre, master-planned mixed-use environment with 159,128 square feet of retail and 57,204 square feet of office space adjacent to Texas A&M University in College Station, Texas.

JLL worked on behalf of the borrower, a partnership between Houston-based Midway Companies and Chicago-based Harrison Street, to place the non-recourse loan that was provided by funds managed by the Real Estate Group of Ares Management Corporation (NYSE: ARES).

Century Square is the first truly walkable, urban mixed-use environment in the Brazos Valley and has quickly established itself as the premier shopping, dining and entertainment destination in the area. Completed in 2018, the retail component houses a diverse mix of national brands, local boutiques and signature dining establishments, while the Class A office space offers tenants spacious and modern floor plans. Featuring open green spaces, entertainment and outdoor events, the live-work-play development also contains two boutique hotels (303 rooms) and a Class A multi-housing property (249 units), which were not included in the financing.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Colby Mueck, Managing Directors Timothy Joyce and Stephen Skok and Analysts Stuart Hepler, Katherine Miller and Charlie Strauss.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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