$19-Mil Loan Closes for 220,000-SF CBD Building

HOUSTON-L.J. Melody & Co. in Houston has arranged a $19-million loan for 801 Travis, a 220,000-sf office building in Houston’s CBD. Bear Stearns provided the funding for RS Investments.

Tom Melody of L.J. Melody arranged the funding for the transaction. Melody could not be reached by press time for comment on the deal.

In 1997, 801 Travis was sold by Jones Lang Wootton to Robertson Stephens Commercial Property Funds. Jim Savage of Holliday Fenoglio Fowler LP brokered the sale. Savage tells GlobeSt.com that he remembers L.J. Melody & Co. had arranged the original financing at the sales of the building. Savage says Wells Fargo Bank is the lead tenant.

The Houston-based L.J. Melody is part of the CB Richard Ellis network. Through its limited partnership affiliate, GEMSA Loan Services LP it maintains a loan -servicing portfolio in excess of 7,000 loans totaling $52 billion.