Thursday , 28 May 2015
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Amstar Sells New Project by Houston Airport

HOUSTON — Amstar, a Denver-based real estate investment manager, on behalf of one of its public retirement system clients, has sold the new Beltway North Commerce Center, a 352,680-square-foot industrial project in north Houston. The property sale was arranged during construction and closed when the building was complete. Amstar in partnership with Davis Commercial Development of Houston acquired the 35-acre ... Read More »

Houston Firm Buying 149 Hotels from Goldman Sachs Unit for $1.7 Billion

HOUSTON – Moody National REIT I, a Houston-based hotel group, has agreed to buy 149 hotels from a real estate arm of Goldman Sachs for $1.7 billion. The deal represents a huge growth initiative for the Houston REIT, which had a portfolio of only seven hotels at the beginning of 2015. The hotel portfolio includes 14,000 rooms spread across 32 ... Read More »

Extended-Stay Play: Starwood Buys 50 InTown Suite Hotels

GREENWICH, Conn. — Starwood Capital Group has acquired a portfolio of  50 economy extended-stay hotels from Mount Kellett Capital Management LP and its partners, further building upon its InTown Suites brand. This sale includes 6,106 hotel rooms primarily in the Southeast, including desirable markets in Texas, North Carolina, Florida,  Georgia and Alabama. With this acquisition, InTown Suites will become the largest ... Read More »

Logistics Firm Leases 334,000 Square Feet

HOUSTON – Pathmark Transportation, a logistics operator that handles goods for Bed Bath & Beyond and other major firms, has signed four leases totaling 334,000 square feet of warehouse/distribution space to accommodate its growing business. Cameron Maness of Transwestern represented the logistics aggregator in separate transactions in Atlanta; Houston; Orlando, Florida; and Memphis. Pathmark’s expansion has been driven in part ... Read More »

281-Unit Apartment Project Under Construction Near the Astrodome

HOUSTON – Allied Orion Group, a Houston led by Kirk Tate, has broken ground on The Beacon at Buffalo Pointe, a 281-unit apartment complex just south of the Astrodome in Houston. Although Houston has an abundance of new multifamily, the developers are targeting the large employment base at the nearby Texas Medical Center.  Located south Loop 610 at 10301 Buffalo ... Read More »

Houston Forecast: Economist’s Gloomy 2015 Prediction Will Be Wrong – Again

Editor’s Comment by Ralph Bivins:  Bill Gilmer, director of the Bauer Institute for Regional Forecasting at the University of Houston, delivered an incredibly gloomy economic forecast last week.  Gilmer told a crowd at the Hyatt Regency that as few as 13,000 jobs will be created in Houston in 2015. Before we dive into a panic, take a minute to consider ... Read More »

The First Mexican REIT Buys Mexico City Center from Hines

MEXICO CITY – Hines has sold its CityCenter Bosque Esmeralda to FibraShop, the first Mexican Real Estate Investment Trust, or REIT. The 318,353,-square-foot shopping center is located in the metropolitan area of Mexico City. Savills marketed the property on behalf of Hines. Designed by KA Architecture of Cincinnati, the four-level, open-air center features more than 90 restaurants and retailers, along ... Read More »

ULI Panel: Sustainability Built Into the Future of American Real Estate

(By Bruce Nichols, Realty News Report Contributor) HOUSTON – Real estate markets are on the cusp of a generational change as younger buyers, renters and investors demand environmental sustainability, and satisfying them will require both market responsiveness and better government policy, a panel agreed at the Urban Land Institute meeting in Houston. “This whole generation, (sustainability) is what they talk about,” ... Read More »

Best April Ever for Home Sales in Houston, Despite Energy Gloom

HOUSTON – Last month was the strongest April ever for home sales in Houston, despite a downturn in the energy industry, which has prompted local economists to issue gloomy forecasts. But so far, local housing continues to outperform in 2015. Houston recorded the strongest April ever with record-high prices and a record number of homes sold for an April, according ... Read More »

ULI Report: The Millennial Generation, Where Will They Live?

HOUSTON – The lack of affordable housing is steering many Millennials away from the higher cost housing in American downtowns. Instead, many Millennials are residing in suburban, affordable neighborhoods or living with parents or roommates to save money, according to a study released Wednesday at the Urban Land Institute’s Spring Meeting in Houston. The youthful Millennial generation is a demographic ... Read More »

Rich Kinder Tells ULI: $100 Billion in Construction on Gulf Coast Over Next 10 Years

HOUSTON – Advancements and innovations in domestic energy production caused the world’s decline in oil prices over the last year, said Rich Kinder, chief executive of Kinder Morgan Inc., said at the opening session of the ULI’s Spring Meeting Wednesday. “We are the victims of our own success,” Kinder said, referring to hydraulic fracturing and drilling innovations that have greatly ... Read More »

NewQuest Developing First Louisiana Retail Project

SHREVEPORT, La. – Houston-based NewQuest Properties is developing a retail center in Shreveport – its first development in Louisiana. The new development, Camp Forbing Marketplace, will be anchored by a 120,000-square-foot Kroger Marketplace and a state-of-the-art YMCA facility. Camp Forbing Marketplace brings vibrant retail and restaurants to a previously unserved area of town, as well as a proposed two-story office building. The ... Read More »

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