Enron Building

Enron Building

Location: Houston, TX
Type: Office
Size: 1,200,000 square feet
Loan Origination Date: December 2002
Loan Repayment Date: March 2004

RCG Longview originated a $20,000,000 bridge mezzanine loan to finance the purchase of a 40-story office building containing nearly 1.2 million square feet of rentable space.  The office building was 100% vacant and was being purchased out of bankruptcy.  The borrower’s initial business plan focused on finding a credit worthy single-tenant occupant but protracted lease negotiations eventually lead to the sale of the building to one of the likely suitors.  The sponsor is a national real estate investor and a repeat borrower of RCG Longview.