Howard Hughes Locks $55M Loan For 3 Texas Offices

Law360, New York (December 13, 2011, 4:45 PM EST) -- Real estate developer The Howard Hughes Corp. has secured a $55 million loan from Prudential Mortgage Capital Co. to help fund three multistory office buildings within its 28,400-acre master-planned community near Houston, the company said Tuesday.

The community's developer, The Woodlands Development Co., refinanced a maturing construction loan for one of the buildings to score the 12-year loan from Prudential.

“The loan provides long-term, attractive financing on key assets 4 Waterway Square and 9303 New Trails," Alex Sutton, president of The Woodlands Development Co., said in...
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