BREAKING NEWS

Astrodome Vision Advisor Wayne Ratkovich Passes

Houston Entity Files Chapter 11

The Ralph Bivins Project – Podcast Guest: Patrick Jankowski

RNR Real Estate Briefs – Texas & more

Spanish Electronics Firm Leases Space

People in Real Estate

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Fitch Comments on NRG Stadium Bonds

by Realty News ReportDecember 6, 2016
Share0

HOUSTON – Fitch Ratings issued a “stable” outlook for the $62.9 million in county bonds issued for the construction of the Houston’s NRG Stadium, where Super Bowl will be played in February 2017.

NRG Stadium, a 1.9 million SF structure with seating capacity of 71,500, was completed in 2002. The NFL’s Houston Texans and the Houston Livestock Show and Rodeo are the key tenants.

Fitch reported the Texans paid attendance was over 98 percent of capacity last year. However, Rodeo attendance declined 1 percent to 2.5 million in 2016 as revenues were basically unchanged at $133.4 million.

“The stadium is a moderately-used facility which retains high flexibility to fund rehabilitation and capital improvements to meet fan and corporate demands,” Fitch reported. “Both tenants collaborate with each other and the landlord, Harris County Sports and Convention Corporation, on capital investment and are required to set aside $2.5 million annually into capital and maintenance accounts which ensures minimum reinvestment.”

Fitch placed a “BBB” rating on the stadium bonds.

Dec. 6, 2016 Realty News Report Copyright 2016

Share0
previous post
Canadian Builder Starts Residential Community on Houston’s Southeast Side
next post
CBRE Sells 29 Restaurant Properties

Related posts

Astrodome Vision Advisor Wayne Ratkovich Passes

Realty News ReportSeptember 27, 2023September 27, 2023

Houston Entity Files Chapter 11

Realty News ReportSeptember 26, 2023September 26, 2023

The Ralph Bivins Project – Podcast Guest: Patrick Jankowski

Realty News ReportSeptember 25, 2023September 25, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

new version
ECD-RealtyNewsReport-Ad-300x250
Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
230725-RNR_Digital-Ad_Red
griffin
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact