Triangle Capital Group has nailed down a $61 million refinancing to secure long-term capital for Energy Centre, the 39-story office tower at 1100 Poydras Street in downtown New Orleans. The deal comes on the heels of Triangle's 2024 acquisition of the building after its prior owner lost it to foreclosure and is designed to steady operations at one of the largest office assets in the city’s central business district.
According to JLL, the loan is a fixed-rate, five-year permanent financing arranged on behalf of Triangle Capital Group for the 757,257-square-foot Energy Centre. JLL reports the tower is about 86.4 percent leased and says the new debt will back ongoing leasing and management efforts at the property. “Energy Centre is a premier asset in the heart of New Orleans' central business district,” Adam Ashourzadeh of Triangle Capital said in the release.
As reported by Commercial Property Executive, Triangle acquired the tower in 2024 after Hertz Investment Group foreclosed on the asset, according to Yardi Matrix. That reporting also places the building’s vacancy at roughly 13.6 percent and highlights its large floorplates and street-level retail footprint, underscoring why a stable tenant roster is key to long-term value. The property sits a few blocks from U.S. Route 90 and Interstate 10, close to major CBD thoroughfares and destinations such as the Superdome.
Market context for downtown offices
The broader New Orleans office market is seeing modest rent growth even as downtown fundamentals trail the metro. According to the Stirling/NAIOP Q3 2025 report, metro office vacancy was 7.3 percent with an average asking rent near $22.50 per square foot, while the Central Business District has dealt with higher vacancies as some tenants gravitate to suburban locations with easier parking.
Building details and tenant mix
Energy Centre materials list average floorplates around 25,000 square feet and roughly 13,000 square feet of ground-level retail, a setup that can appeal to large legal tenants along with street-facing businesses. JLL adds that the tower features 982 covered parking spaces, including an annex garage at 600 Loyola Ave, and notes that law and mediation firms account for about 55 percent of occupancy, giving the building a relatively sticky tenant base.
Why the financing matters
The permanent loan gives Triangle some breathing room at a time when downtown office owners are juggling maturing debt and uneven leasing demand. Industry coverage has pointed to a wave of loan maturities and distressed sales across 2024 to 2025 that has reshaped deal activity in the market, making new financing for comparatively stabilized assets stand out in value, observers say; see REBusinessOnline for analysis.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Scott Aiese along with Directors Alex Staikos and Clayton Ross, according to Commercial Property Executive. Triangle reports momentum on leasing and says it plans to keep investing in building operations as it works to keep Energy Centre competitive in the CBD.
