Midway’s Century Square Development in College Station Refinanced for Growth
The Century Square mixed-use project in College Station was developed by Midway Cos. of Houston.
HOUSTON — (Realty News Report) — JLL has secured a $42 million refinancing package for Century Square, a 60-acre mixed-use development located adjacent to Texas A&M University in College Station. The property includes 159,128 square feet of retail space and 57,204 square feet of office space.
JLL arranged the non-recourse loan on behalf of the borrower, a partnership between Houston-based Midway Companies and Chicago-based Harrison Street. The financing was provided by funds managed by Ares Management Corporation’s Real Estate Group.
Completed in 2018, Century Square was the first walkable urban mixed-use environment in the area. The development combines dining, entertainment and retail offerings, featuring a mix of national brands and local boutiques, and includes activated green space designed to support community activity and events.
In addition to the retail and office components, Century Square includes hospitality and residential assets that were excluded from this financing. Those assets comprise two boutique hotels—the George and Calvary—totaling 303 rooms, and the 249-unit 100 Park multifamily community.
The JLL Capital Markets team that represented the borrower was led by Senior Managing Director Colby Mueck, with Managing Directors Timothy Joyce and Stephen Skok, and analysts Stuart Hepler, Katherine Miller and Charlie Strauss contributing to the transaction.
