Saturday , 24 June 2017
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Midas Hospitality Buys Hotel Near Medical Center

HOUSTON – St. Louis-based Midas Hospitality purchased the 120-room Staybridge Suites near the Texas Medical Center. The hotel, 9000 South Main, is the first acquisition in Texas for Midas, which owns 41 hotels in 14 states. The seller, Pride Management of Beaumont, was represented by CBRE Hotel’s Michael Yu, Rahul Bijani, Eric Guerrero and Agrama Mannapperuma. The hotel has the ... Read More »

Skanska’s Tower for Bank of America Rising on Houston Skyline

HOUSTON – Bank of America has acquired the naming rights for the new Skanska USA tower under construction in downtown Houston. The 35-story office tower will be located on a block bounded by Capitol, Rusk, Milam and Travis streets, will be complete in the first half of 2019. At an event on Thursday to mark the vertical construction, Hong Ogle, ... Read More »

CBRE Moving Out of Downtown Houston to Innovative Space near Galleria

HOUSTON – CBRE Group, the largest commercial real estate firm in the world with annual revenues in excess of $13 billion, is moving its offices out of downtown Houston. CBRE, which has maintained offices in both downtown and in Uptown Houston area for many years, has leased 77,000 SF in Williams Tower for a new innovative work space. The new ... Read More »

Goldman Sachs Provides $163.5 Million Refi for 717 Texas Building in Downtown Houston

HOUSTON – Goldman Sachs provided $163.5 million to refinance the 717 Texas Avenue building in downtown Houston on behalf Hines and Prime Asset Management. JLL’s Executive Managing Director Tom Melody and Senior Vice President John Ream led JLL’s capital markets team on the financing. The 33-story, 696,000-SF trophy office tower is located at the corner of Texas Avenue and Milam, ... Read More »

Construction (and Demolition) to Begin at Bellaire Town Center

BELLAIRE, Texas – The wrecking ball is rolling toward a 68-year-old shopping center with a parking lot studded with big, mature oak trees. The existing Bellaire Town Center has all the trappings of a shopping center built in another era: a two-story property with a microscopic set-back from South Rice Avenue. Most of the tenants interviewed recently say they would ... Read More »

Scottish Oilfield Service Firm Buys Houston Industrial Building

Houston  –  Churchill Drilling Tools purchased  a 20,943-SF crane-served manufacturing property at 1366 E. Richey Road in Houston. Headquartered in Aberdeen, UK, Churchill Drilling Tools is an oilfield service company specializing in the manufacturing of down-hole tools. Founded in 1998, Churchill Drilling employs more than 60 staff at regional operations in Aberdeen, Houston, and the UAE with a number of ... Read More »

Realty News Report Editor Wins NAREE Award for Real Estate News Coverage

DENVER – Realty News Report Editor Ralph Bivins has been named a winner in the National Association of Real Estate Editors’ 67th Annual Journalism Awards. Bivins was recognized for his work in social media with tweeting. “A visual buffet of news and features, ranging from office vacancy rates in Houston to the future of the Astrodome, highlighted this entry. The tweeter drew ... Read More »

Mixed-Use Developments: The Keys to Quality

DENVER — Mixed-use development has become extremely popular, but it is not the panacea for the American real estate industry. That was one of the takeaways from a panel of prominent real estate entrepreneurs speaking at the 51st gathering of the National Association of Real Estate Editors (NAREE) conference in Denver Thursday. Moderated by journalist Joe Gose, contributor to The New York Times, the “Designing Quality Mixed-Use Projects” addressed such ... Read More »

Sustainable and Healthy Work Places Will Thrive, NAREE Told

DENVER — Sustainability is so ingrained in the U.S. real estate industry that President Donald Trump’s withdrawal of the U.S. from the Paris climate accord will not make a huge difference, attendees at the 51st gathering of the National Association of Real Estate Editors (NAREE) in Denver were told Thursday. “Personally, I feel it was the wrong thing to do,” ... Read More »

Nation’s Home Prices of a Rising Trend Amid Tight Supply, Says Harvard State of Nation’s Housing Report

DENVER — After nearly a decade of anemic appreciation, home prices across America are on the rise, fueled by strong demand and lessening supply, according to the State of the Nation’s Housing study by the Joint Center for Housing Studies of Harvard University released Wednesday during the 51st conference of the National Association of Real Estate Editors (NAREE) in Denver. Chris Herbert, the Center’s managing ... Read More »

The Top 10 Issues Affecting Real Estate: CRE Chair Tells NAREE Political Polarization, Immigration Among Big Issues Facing Realty

DENVER – Global uncertainty and political polarization are expected to heavily impact the real estate sector this year and next, according to The Counselors of Real Estate (CRE), the invitation-only professional association for the industry’s real estate advisors. “Real estate is impacted as uncertainty about changes to trade, travel and immigration policy threaten cross-border investing, hospitality properties, retail and manufacturing ... Read More »

Realty Record: May was Strongest Month Ever for Home Sales in Houston – More Than 8,000 Homes Sold

HOUSTON – May was a record-setting month for single-family home sales in Houston as 8,156 houses were sold – the highest monthly sales total in the history of Houston real estate, according to the Houston Association of Realtors. The May sales total represented an 11.5 percent increase over May of 2016, HAR reported. “The Houston housing market had another strong ... Read More »

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