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Monthly Archives: April 2011

Lease Brief

Houston-based David Weekley Homes has entered the Indianapolis market with a merger with Estridge Homes of Indiana. Estridge’s owner Paul Estridge Jr. will be Indianapolis division president of David Weekley Homes. Read More »

Lease Brief

Cushman and Wakefield of Texas Inc.’s Houston office negotiated the following lease: 24,193 square feet of office space located in Wilcrest Green Office Building at 11111 Wilcrest in Houston. Joseph Peddie, James E. Foreman and Louis “Beau” Kaleel of C&W represented the tenant in the negotiations. Mike Martin of PM Realty Group represented the landlord. Read More »

New West Loop building/ Lease Brief

Redstone Real Estate. will develop a 20-story 380,000-sf office tower at 2200 Post Oak Boulevard, just north of Houston’s Galleria. BBVA Compass, the U.S. banking arm of Spain-based Banco Bilbao Vizcaya Argentaria SA, will occupy 150,000-sf. Read More »

Office portfolios trade at high prices

Jones Lang LaSalle announced its Capital Markets professionals have secured a $42 million senior mortgage loan for M-M Properties to finance 919 Milam in downtown Houston,. The debt is comprised of $35 million in initial funding and up to $7 million for tenant and capital improvements. Read More »

Chevron negotiating to purchase 1400 Smith

Chevron Corp. is negotiating to purchase the 1400 Smith tower in downtown Houston for a reported $380 million. The 50-story, 1.3 million-sf building will be listed for sale with HFF if Chevron does not purchase the tower, according to Real Estate Alert. The building, known as Four Allen Center, is currently owned by Brookfield Office Properties. Chevron leases Four Allen ... Read More »

Large residential purchase in League City

Isola Ventures has purchased the 35-acre Beacon Island residential development in the South Shore Harbour development in League City, Texas, near Houston. The high-end project was formerly known as Lighthouse Island. Chemplast L.L.C. has purchased a 174,923 sf manufacturing/distribution facility on 12.78 acres located at 1002 Texas Parkway in Stafford, southwest of Houston. Beau Kaleel and Jim Foreman with Cushman ... Read More »

Texas Trades

Houston-based McGuyer Homebuilders Inc. (MHI) is acquiring Wilshire Homes, gaining Wilshire’s lots and positions in Austin and San Antonio, according to Big Builder Online. Wilshire ranks as 17th most active builder in Austin and ranks 18th in San Antonio. Read More »

$700 million project underway in Washington DC

Hines has secured 100 percent equity financing for its $700 million project underway in downtown Washington, DC. Hines is building the project in a JV with Archstone. The anchor investor is Qatari Diar Real Estate Investment. (Qatari Diar), the real estate investment arm of the Qatari Investment Authority and the financing was put in place by Barwa Bank’s investment banking ... Read More »

Lease Brief

M/I Homes has acquired TriStone Homes of San Antonio. TriStone sold 119 houses last year. Columbus-based M/I entered the Houston market last year. Identity Architects leased 5,087 square feet at the 111 Travis building, Houston, Texas. Kevin Nolan and Griffin Jaggard of Moody Rambin Interests represented the building owner, 708 Main, L.P. Griff Bandy and Jon Silberman with NAI Houston ... Read More »

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