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Category Archives: Capital Markets

CBRE Handles $111 Million Refi of Abbey Multifamily in Houston

HOUSTON –CBRE Capital Markets’ Debt & Structured Finance team has arranged $111 million in refinancing for a 1,254-unit, three-property multifamily portfolio in Houston. The properties included in the transaction are: The Abbey at Barker Cypress, located at 1760 Barker Cypress Road, Houston, Texas. The Abbey at Enclave, located at 1910 Westmead Drive, Houston, Texas. The Abbey at Briargrove, located at ... Read More »

Chinese Investors Buy Apartment Project Near Houston’s Galleria

HOUSTON – Strategic Capital of China has entered the Texas market with the purchase of the 372-unit Broadstone Post Oak apartments near the Galleria in Houston. “We are extremely pleased to mark our entry into the Texas market through this milestone transaction,” said Ning Yuan, Chairman and President of Strategic Capital and China Construction America. CBRE’s Ryan Epstein, Clint Duncan ... Read More »

Q&A: Third Palm Capital’s Exclusive Interview with Realty News Report

MIAMI – Third Palm Capital is undertaking a billion-dollar mixed-use development in Houston’s Energy Corridor in one of the nation’s strongest growth regions. The Texas Triangle – a heavily populated swath of Texas bounded by Dallas, San Antonio and Houston – holds a great allure for long-term development possibilties, said developer Cameron Graham, executive vice president of Third Palm. Graham, ... Read More »

Energy Corridor Building to Fetch Record-High Price

HOUSTON – A new office building in Houston’s Energy Corridor is expected to sell for a record-high price, despite the recent collapse in oil prices and the energy industry layoffs that followed. The 549,000-square-foot Energy Center 3 tower, fully leased to ConocoPhillips, has been placed on the market with expectations that it will fetch a sales price of $270 million ... Read More »

Dateline Houston: When Oil Dropped Below $50, Some Investors High-Tailed-It Out of Town; But German Investor Martin Bruhl Bought a $440 Million Tower on Main Street

HOUSTON – A compelling investment story can be told in Energy Capital of the World, even with oil at $50 a barrel, says Martin Brühl, the German investment manager who just engineered one of the biggest deals in Houston’s real estate history. Brühl says Union Investment is not stopping with the Houston trophy. It is looking for more investments in ... Read More »

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 »

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