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Category Archives: Capital Markets

Biggest Deal Ever? Foreign Investors Bid Heavy on a Houston Trophy Tower

HOUSTON – A dozen investment groups, including foreign buyers, submitted bids this week to buy the 1000 Main building in downtown Houston – a transaction that may become the biggest deal ever in the Bayou City. Foreign buyers, including players from Europe, the Far East, the Middle East and Canada submitted offers to purchase the 36-story building, said Bernard Branca, ... Read More »

Shorenstein Selling Five Post Oak Park for Anticipated $185 Million

HOUSTON – Shorenstein Properties is selling the 28-story Five Post Oak Park, an Inner Loop Houston office building that is expected to fetch $185 million, or $326 per square foot. The Real Estate Alert newsletter reported that the deal is considered a “value add” play because the building’s anchor tenant Amergy Bank is expected to relocate in 2016. Amegy is ... Read More »

71 Shopping Centers Sold for $2 Billion

BEACHWOOD, Ohio – A joint venture of DDR Corp. and an affiliate of Blackstone Real Estate Partners VII has acquired 71 shopping centers from American Realty Capital Properties, Inc. for $1.93 billion. Prior to the deal, American Realty’s  portfolio included almost 500 properties in Texas, including the Costco-anchored Greenway Commons center in Houston at the northeast corner of Richmond Avenue and ... Read More »

Cushman & Wakefield: Global Investors Now Liking Dallas, Dublin, Dubai – and Houston

MUNICH – New York attracted the most commercial real estate investment during the last year as the global real estate investment market saw volumes increase by 17.2% to $788 billion, according to Cushman & Wakefield’s annual ‘Winning in Growth Cities’ report launched today at EXPO REAL in Munich, Germany. While a number of cities still dominate, activity is spreading to ... Read More »

Another Westchase Office Building Sold in Blazing Hot West Houston Market

HOUSTON –  Columbia Centre, an office building located in Houston’s Westchase submarket, has been sold to Dornin Investment Group. Columbia Centre is a 166,720-square-foot, Class B+ nine-story office building.  It has access to the West Sam Houston Parkway, Westpark Tollway, Westheimer Road, and three major thoroughfares in West Houston. The building has frontage along Richmond Avenue and along Wilcrest Drive. JLL’s Managing Director Rudy Hubbard, ... Read More »

Bahrain-based Investcorp Selling Westchase Building for $110 Million

HOUSTON – Investcorp, a Bahrain-based investment firm, is seeking to sell  One Westchase Center, a 466,000 square-foot office building in West Houston, according to Real Estate Alert newsletter. The building could sell for as much as $110 million, which would represent a handsome profit over the $80 million it paid for the building only a year and a half ago, ... Read More »

Los Angeles Ranked as No. 1 Deal-Making Venue by Transwestern

HOUSTON – Los Angeles leads the nation in office building transactions in 2014, and Manhattan is No. 2, according to a mid-year report released by Transwestern, the Houston-based commercial real estate company. The report covered office building sales, with a price of more than $2.5 million, for deals completed year-to-date before July 31. Transwestern’s 2014 Deal Rankings: Los Angeles – ... Read More »

Goddard Buys Fountain Place Tower in Dallas for $200 Million

DALLAS – Atlanta-based Goddard Investment Group, LLC, has acquired Fountain Place, one of the most recognizable skyscrapers in Texas for a reported $200 million. The 58-story office tower, located near the Arts District in Dallas, was built in 1986. Goddard partnered with an arm of Metropolitan Life Insurance to make the acquisition for a price that was close to $200 ... Read More »

Exxon Mobil Sells Greenspoint Building to Stream Partnership

HOUSTON – Exxon Mobil, which is moving thousands of employees to its new campus near The Woodlands, has sold its Eight Greenspoint building in north Houston. The Greenspoint area, which includes the Greenspoint Mall near the intersection Interstate 45 and Beltway 8, has been identified as one of the submarkets that could be hard-hit by Exxon Mobil’s relocation to its ... Read More »

Houston’s Trophy Towers: Breaking the $400 Per SF Barrier; Sale of Heritage Plaza Solidifies Price Trend

HOUSTON – AEW Capital’s purchase of the Heritage Plaza tower in downtown Houston continues to support trends for for trophy building sales over $400 per square foot – rarified pricing that was once thought to be unattainable. AEW Capital has agreed to acquire a controlling interest in the 53-story Heritage Plaza for approximately $475 million, or $413 per square foot, according ... Read More »

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