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Israeli Realty Firm Buys New Office Building in West Houston for $76 Million

An Israeli real estate firm purchased the 8 West Centre building in Houston for $76 million.

An Israeli real estate firm purchased the 8 West Centre building in Houston for $76 million.

HOUSTON – An Israeli real estate investment firm has purchased a recently completed office building in west Houston for $76 million.

HFF closed the sale of and arranged acquisition financing for the building, which is named 8 West Centre. The Class A office building is located along the West Sam Houston Tollway in Houston, near Kempwood Drive.

HFF marketed the property on behalf of the seller, Core Real Estate of Houston.

Azrieli Group, a real estate investment and development company based in Tel Aviv, purchased the four-story building.  HFF assisted Azrieli in securing a five-year, fixed-rate acquisition loan through Aegon USA Realty Advisors, LLC, a commercial real estate investment and management arm of Aegon Asset Management. This is the fifth Houston property purchased by the Azrieli Group.

The Azrieli Group, founded by David Azrieli and managed by CEO Yuval Bronstein, has most of its real estate holdings in Israel with the exception of one asset in the United Kingdom and five in Houston.

Completed in 2013, 8 West Centre is a 227,045-square-foot property with a 938-space parking garage. The LEED Silver designated building is fully leased to two tenants: Cameron International Corporation, which uses the facility as their divisional headquarters for their surface systems division, and Helix Energy Solutions, who has their global headquarters at the site.  Situated on nine acres on the west side of Beltway 8, the property is located at 3505 West Sam Houston Parkway North, just north of Kempwood Drive in the West Belt Corridor of Houston.

The HFF investment sales team representing the seller was led by senior managing directors Dan Miller, Rusty Tamlyn and Mark West and director Trent Agnew.

HFF’s debt placement team was led by managing director Matt Kafka and senior managing director Wally Reid.

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