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Category Archives: Capital Markets

Invesco: M&A is the Biggest Threat to Houston Office Market; Energy Company Mergers to Empty Office Space

HOUSTON – Mergers and acquisitions are the most threatening cloud on the horizon for the Houston office market, says an executive with one of the biggest investors in Texas. “In the short term, we think the greatest risk is the M&A activity that is going to occur,” says Ron Miller, director of acquisitions for Invesco Real Estate of Dallas. Miller ... Read More »

Mass Mutual: Houston is Not Redlined

HOUSTON – A major institutional investor says it remains open to buying Houston properties. “We have not redlined any property type and we have not redlined Houston,” says Pam Boneham, managing director of Cornerstone Real Estate Advisors, a subsidiary of Massachusetts Mutual Life Insurance Co. Boneham told the recent RealShare conference that Cornerstone will be sure to carefully underwrite Houston ... Read More »

High Hopes: Whisper Number is $40M for Houston Chronicle HQ

HOUSTON – Hearst Corp. is hoping to fetch as much as $40 million in the sale its downtown Houston Chronicle property. Employees of the nation’s sixth largest newspaper are expected to relocate to the company’s facilities on the Southwest Freeway near Loop 610 in the fall of 2016. HFF is marketing the Chronicle’s downtown property, covering 99,184 square feet of ... Read More »

CenterPoint Properties Buys 27 Houston Buildings

HOUSTON – Continuing a Houston buying spree, CenterPoint Properties has acquired a 27-building industrial portfolio with 3.6 million square feet of Houston warehouse space. The properties, most of which are rail-served, are located within nine business parks, including West Loop Business Park, Kempwood Industrial Business Park, Northway Park II, Turning Basin Subset, Market Street Industrial Park, Railwood Industrial Park, 1200 ... Read More »

German Investor Finalizes Its Purchase of 1000 Main Tower in Houston for $440M

HOUSTON – Germany-based Union Investment announced it has finalized the purchase of the 36-story 1000 Main office tower in downtown Houston for approximately $440 million or about $525 per square foot, in one of the biggest Houston realty deals ever. “We are delighted to add this well positioned property with strong prospects for stable long-term income and rent growth to ... Read More »

Former Bombay Co. HQ Building Purchased by Transwestern Investment Group

FORT WORTH – The former Bombay Co. headquarters building in Fort Worth has been purchased by Transwestern Investment Group, on behalf of Diversified International Partners. CBRE Capital Markets announced the sale of 550 Bailey, a recently renovated, Class A office in Fort Worth’s Cultural District. The seven-story, 122,828-square-foot asset was completely renovated in 2008 and once served as headquarters for ... Read More »

Houston West Loop Building Sold to New Yorkers on Quest for National Expansion

New York – A portfolio of buildings in Houston, Washington DC,  San Diego, and Sacramento have been purchased by a joint venture led by Princeton Holdings and the Bluestone Group, two commercial real estate investment firms based in Manhattan. The four-property, 850,000-square-foot portfolio of office buildings are primarily leased to the federal General Services Administration (GSA). The Houston property in ... Read More »

Veteran Houston CRE Lending Expert John Fenoglio: Construction Lending Over in Some Sectors

HOUSTON – Lenders have put a halt on funding new multifamily and office construction projects in Houston in the face of low oil prices, says John Fenoglio, one of the nation’s most experienced real estate lending experts. “There’s been a curtailment of development capital – equity and debt,” John Fenoglio said at the CBRE press luncheon in Houston last week. ... Read More »

Hunt Creates REIT for Texas Power Lines

DALLAS – InfraREIT, a power line company created by billionaire Ray L. Hunt’s organization, launched its initial public offering and began trading on the New York Stock Exchange on Friday. The Dallas-based Hunt organization, with energy, real estate and ranching interests, was founded by H.L. Hunt and it now has annual revenue of $4.5 billion, according to Forbes. InfraREIT owns ... Read More »

Rosemont Realty Buys Office Building in Houston’s Energy Corridor

HOUSTON – Rosemont Realty, LLC, a leading commercial real based in Santa Fe, N.M., has acquired Kirkwood Tower in Houston’ Energy Corridor. The acquisition of the 15-story tower adds 285,682 rentable square feet of Class A office space to Rosemont Realty’s portfolio. It brings the company’s total square footage in the greater Houston area to nearly 2.5 million square feet, ... Read More »

Tower in Downtown Houston Draws Record Price

HOUSTON – LaSalle Investment has agreed to pay $450 million for the 1000 Main building in downtown Houston – a price that will be the highest ever paid in Houston, according to the Real Estate Alert newsletter. LaSalle’s price of $537 per square foot will surpass Houston’s existing price record of $524 per square foot, the newsletter said. Other buyers ... Read More »

Multifamily Shakeup: ARA Apartment Brokerage Firm Selling for $110 Million

NEW YORK — BGC Partners, the owner of Newmark Grubb Knight Frank brokerage, has agreed to acquire Apartment Realty Advisors (ARA) for $110 million. ARA is the largest privately held, full-service investment brokerage network in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multi-family housing properties including conventional, affordable, distressed assets, notes sales, seniors, student ... Read More »

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