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Six Houston Center At 800 Caroline St.


UrbaNerd

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This project is D-E-A-D. The large tenant in the market that was their saving grace is not going to this building. Maybe next cycle...

well now the question that arises is where is this large tenant moving, if it all? and could this large tenant occupy the alledged 50% brookfield is requiring for 5AC?

inquiring minds want to know.

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My source told me that is exactly what Crescent did to accomodate the tenant beginning with H. check your sources pal.

Once again McGillicuty, I have to call you out, man. You are quickly becoming a volcano that spews misinformation under the blanket of news from alleged "sources."

Have you and your alleged "source" not been reading the news? Lehman filed for Ch 11, AIG got bailed out and MS shares are down over 30% today to sub-$20 levels. Both you and your"source" at Crescent are wishful thinkers.

Plus, I spoke with my own "source" earlier today. Who I will add, is a real person that is intimately familiar with the He$$ deal. He confirmed that He$$'s deal at 6 HC is DEAD and has been dead for some time. They are down to two options: backfilling Devon's space at Allen Center or Discovery Tower, with TCC willing to redesign Discovery to accommodate.

6HC is on hold indefinitely and will likely not be built until markets return to normal. I personally wish it weren't so, but it's time to accept reality and move on.

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  • 2 weeks later...
The refinancing of 5 Houston Center has been approved. (GlobeSt.com) I wonder if this will affect the securing of financing for 6 HC.

In addition, Crescent just sold One Briar Lake Plaza for an estimated $134 million and have the 3 building Post Oak Central up for sale at $240 million. Next week's HBJ reports it's also shopping about half of its Greenway Plaza holdings...

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  • 2 weeks later...
In addition, Crescent just sold One Briar Lake Plaza for an estimated $134 million and have the 3 building Post Oak Central up for sale at $240 million. Next week's HBJ reports it's also shopping about half of its Greenway Plaza holdings...

Hmm...

sounds like they're trying to shore up liquidity. But without any tennants, can you really get the financing approved?

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They are looking to sell some, if not all of Greenway. I think 6 Houston is on hold as there is no work active right now on the project.

The refinancing of 5 Houston Center has been approved. (GlobeSt.com) I wonder if this will affect the securing of financing for 6 HC.
Not sure, but Crescent doesn't own 5 Houston, Well's Reit does. Edited by Daniepwils
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  • 1 month later...
6 Houston Center is officially "on hold indefinitely" i.e. dead! (not like anyone didn't see that coming)

We're assuming you have a source.

But yeah, not that my hunches have any merit, but I wasn't really expecting it to go up either. I'm guessing it had more to do with the economy and not so much with the project itself. Maybe the next question is if the same thing will go up in better times.

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  • 2 months later...

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