$58 million loan buys Fort Worth’s Chesapeake tower

(CBRE)

The Pier 1 Imports Building was constructed in 2004.

Last week when Houston-based Hines bought the Chesapeake Energy tower in downtown Fort Worth, no financial details were disclosed.

But now we know the commercial real estate firm borrowed $58 million to finance the purchase of the 20-story tower.

CBRE Capital Markets said Tuesday that it arranged the floating rate financing with BBVA Compass.

The 460,000-square-foot office building on the Trinity River is fully leased to Chesapeake Energy and Pier 1 Imports.

Since the retailer now occupies the bulk of the property, the name is being changed to the Pier 1 Imports Building.

The high-rise was built in 2004 and was sold by Chesapeake Energy.

Greg Greene and Scott Lewis with CBRE arranged the financing.