Monday , 28 July 2014
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REIT Buys Boutique Ashton Hotel in Downtown Ft. Worth

FORT WORTH – CBRE Hotels announced the sale of The Ashton Hotel, a 39-unit historic boutique hotel in downtown Fort Worth. Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations. The REIT owns a nearby Hilton property. The Ashton Hotel, 610 Main, first opened in 1890 (two-story) and 1915 (six-story). Following ... Read More »

RNR Apartment Briefs

HOUSTON – FSC Realty, LLC, based in Beverly Hills, Calif., has purchased The Retreat at Conroe, a 210-unit Class A multifamily community in Conroe. CBRE Houston’s Multifamily Investment Properties Group announced the sale on behalf of Houston-based The Retreat at Country Club Park, LLC. The luxury community, at 2951 North Loop 336 West in Conroe, was completed in 2013 and is 97 percent occupied. “The Conroe area is going through ... Read More »

Fracking Has Its Benefits: JLL Report Documents Shale Surge in Realty Markets

HOUSTON – Fracking has its benefits. The North American Shale Surge has created a huge demand for housing, retail and commercial real estate development in small towns where oilfield workers are moving and oilfield service companies are establishing outposts. The growth is not limited to small towns. Energy Hub cities are growing as energy firms absorb office space, build rail ... Read More »

Hines Taps David Weekley Homes and Ashton Woods Homes for New Tampa MPC

TAMPA, Fla. – Hines, Houston-based real estate firm, has announced that Ashton Woods Homes and David Weekley Homes will build houses in Hines’ new master-planned community in Tampa. Hines recently acquired 536-acre Behnke Ranch property in Tampa, on which the firm will develop a signature mixed-use, master-planned community, will now be named Asturia. Asturia has approved zoning and entitlements in ... Read More »

Canadians Buy 49-Story Tower in Dallas

DALLAS – A Canadian investment group has purchased the 49-story 1700 Pacific office tower in the Dallas Central Business District – the sixth downtown office tower to sell in 2014. Quebec, Canada-based Olymbec Group acquired the 1.3 million square feet, three levels of on-site parking and an off-site parking garage connected via enclosed sky bridges. The property also includes concourse-level ... Read More »

Prologis Buys Houston Industrial Portfolio

HOUSTON – Prologis Inc., an industrial REIT, purchased a three-property industrial portfolio totaling 219,452 square feet in Houston’s Prologis Park NorthPark, formerly NorthPark Central Business. HFF marketed the portfolio on behalf of the seller, J.A. Billipp Company. The sale included three dock-high and grade-level industrial buildings comprised of office/warehouse, technology and bulk distribution facilities with 18’ to 24’ clear ceiling ... Read More »

Hines Opening an Office in Greece

HOUSTON – Hines, the international real estate firm based in Houston, is opening an office in Greece. Greece has been in a recession for six years and in the first quarter of the year, Greece’s jobless rate stood at 27.8%. But there are projections of improvement and analysts say Greece bottomed out in 2013. Hines said Paul Gomopoulos has been ... Read More »

MetroNational Showcases Green “Treehouse” Office in Memorial City

HOUSTON – MetroNational, the developer of Houston’s Memorial City, has completed The Treehouse, a sustainable office building serving as a collaborative hub for the Houston development firm and shine as a green landmark for the Memorial area. Expected to earn LEED Platinum status for its advanced green elements, The Treehouse – a two-story, 14,700-square-foot building at 963 Bunker Hill in ... Read More »

RNR Apartment Briefs

HOUSTON – Embrey Partners, Ltd., and Stonelake Capital Partners, LLC, have opened a four-story, luxury, multi-family rental community at Highway 249 and Cypresswood Drive in northwest Houston. The project consists of 336 high-end units on 15.42 acres. Highpoint at Cypresswood is an urban contemporary, surface-parked project consisting of two, four-story buildings with six elevators. “Our goal is to provide a ... Read More »

The Hottest Half-Mile in America: Lakes On Post Oak Sell-Off Continue Deal Parade

HOUSTON – The Lakes on Post Oak, located just south of Houston’s Galleria, is trading hands and Trammell Crow Residential is making a play on the four acres of development land there – in what may be the hottest strip of real estate in the nation this summer. The 23-acre development, developed by Hines, consists of three office buildings totaling ... Read More »

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