HFF Secures Financing for Data Center in Houston

HFF has secured $33.8 million in senior financing in conjunction with the recapitalization of Westland Bunker in a northwestern suburb of Houston, Texas.
Westland Bunker

Westland Bunker

HFF has secured $33.8 million in senior financing in conjunction with the recapitalization of Westland Bunker in a northwestern suburb of Houston, Texas.

Managing director Colby Mueck led the HFF debt placement team representing the borrower, Houston Bunker LLC. The loan was placed with Sovereign Bank and Hillcrest Bank. The property is 90 percent leased.

Westland Bunker, a 2N data center and office complex, sits on a 50-acre campus at 550 Club Drive in Montgomery, about 45 miles north of Houston’s central business district. The area is home to approximately 26 Fortune 500 companies, as well as to more than 3,700 energy-related firms, including the new ExxonMobil campus.

Built in 1982, the property embodies a 19,116-square-foot, two-story, underground data center and a 61,086-square-foot, four-story office building. Since 2007, nearly $30 million of capital improvements have been made, in the most part to the data center.

Image courtesy of Westland Bunker Facebook Page