The development will include 50,000 square feet of retail and 100,000 square feet of office space.

HOUSTON—The Montrose Collective is a four-building mixed-use development with 150,000 square feet of creative office and retail space in Houston's Montrose District. It comprises four land parcels totaling 2.44 acres at the corner of Westheimer Road and Montrose Boulevard.

Construction financing and joint venture equity in the amount of $104.75 million was recently arranged for the project. A JLL capital markets team worked on behalf of the borrower, Radom Capital, to secure the construction loan with Bank OZK and joint venture equity from institutional investors advised by JP Morgan Asset Management.

The existing property housing Uchi, Southside Espresso, Hue and Rosemont will remain operational during construction. The remaining acreage will be developed into a six-story 150,000 square-foot building with ground-level retail and restaurant space, second-floor medical office and service retail space, and creative office space on the upper floors. In addition, a three-story retail building with upper floors will be occupied by a new 10,000-square-foot branch of the Montrose Library. In total, the project will offer retail frontage on four streets, public and private parking, patio and green space alongside the 50,000 square feet of retail and 100,000 square feet of office space.

The project is located in the Montrose District, which is positioned between downtown, the Texas Medical Center, Rice University and River Oaks. This neighborhood has quickly become one of the trendiest and in-demand Houston neighborhoods with dozens of restaurants, museums and three of the city's top universities within a three-mile radius. Additionally, the Montrose Collective has access to Houston's major freeways, including Interstates 45 and 10, State Highway 288 and US Route 59, as well as the nearby light rail line, which provides service between downtown and the Medical Center.

The JLL team representing the borrower was led by senior managing directors Colby Mueck and Ryan West, senior director Matthew Putterman, and analysts Jett Lucia and Matthew Williamson.