Houston, TX – January 31, 2012 – (RealEstateRama) — CBRE has arranged $250.0M in debt financing for the acquisition of Hess Tower, a 844,736-square-foot, Class AA trophy office asset in the Houston CBD. CBRE Capital Markets Senior Vice President Michael Strober worked on behalf of the borrower, H&R REIT to secure the eight-year, fixed-rate loan at 4.5% per annum through Pacific Life Insurance Company. Strober, based in Tampa, FL, was joined in representing H&R REIT by Bernard Branca and Greg Greene of CBRE Capital Markets in Houston and Dallas, respectively.
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