Three Times Lucky: Houston Retail Asset Obtains Third Financing

By Liviu Oltean, Associate Editor

A Texas-based commercial mortgage banking company announced that it has arranged a $44 million financing for the Centre at Bunker Hill, a 430,820-square-foot Class A retail property in Houston.

According to the announcement, the financing was secured by Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) through Northwestern Mutual.

Centre at Bunker Hill

“We’re very fortunate to have placed the financing for this premier property three separate times since its initial development. Our initial financing was placed on behalf of the original developer, next we financed a portion of the property when the current owner Smithco Development acquired Centre at Bunker Hill and now with the consolidation of debt on the property,” Matt Franke, Q10 KDH vice president, said in a prepared statement.

The Centre at Bunker Hill is a multi-anchor retail property that is currently fully leased. Located at 9654 Katy Freeway, the asset is considered one of the best performing mixed-use projects in the area, as it continues to have a good tenant roster—Best Buy, Costco, Lowe’s, Michaels’—  as well as an optimal location along IH-10.

Image courtesy of Q10 KDH