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Category Archives: Texas

REIT Buys Boutique Ashton Hotel in Downtown Ft. Worth

FORT WORTH – CBRE Hotels announced the sale of The Ashton Hotel, a 39-unit historic boutique hotel in downtown Fort Worth. Ashton Hotel Partners sold the property to Ashford Hospitality Trust, a Dallas-based hotel REIT, which plans additional renovations. The REIT owns a nearby Hilton property. The Ashton Hotel, 610 Main, first opened in 1890 (two-story) and 1915 (six-story). Following ... Read More »

Canadians Buy 49-Story Tower in Dallas

DALLAS – A Canadian investment group has purchased the 49-story 1700 Pacific office tower in the Dallas Central Business District – the sixth downtown office tower to sell in 2014. Quebec, Canada-based Olymbec Group acquired the 1.3 million square feet, three levels of on-site parking and an off-site parking garage connected via enclosed sky bridges. The property also includes concourse-level ... Read More »

Regency Centers Offers to Buy AmReit for $433 Million

HOUSTON – Regency Centers Corp, of Jacksonville, Fla. has made a bid to acquire Houston-based AmReit for $22 per share or $433 million.  Both REITs have significant retail center portfolios. In a press release issued Thursday, Regency published its letter to H. Kerr Taylor, AmREIT’s chairman and CEO. “We are making this letter public because we feel that the potential ... Read More »

EastGroup Properties REIT Buys Austin Industrial

AUSTIN - EastGroup Properties acquired the Centerpoint @ Colorado Crossing, a 265,099-square-foot, four-building industrial complex in east Austin. The transaction was announced by CBRE. The Class A development was constructed in 2009 and is 100 percent leased. The four buildings are made up of an average of 24 prcent office and 76 percent light industrial. Centerpoint @ Colorado Crossing is located on ... Read More »

Border Play: IndCor Buys 1 Million SF of Industrial in El Paso

EL PASO, Texas – IndCor Properties purchased the 10/375 Industrial Portfolio, totaling 1,095,407 square feet in El Paso, Texas. The portfolio includes seven Class A bulk distribution buildings that are 83% occupied. Tenants include ProTrans International, Inc., Electrical Components International, and Handgards, Inc. All buildings were constructed between 1994 and 1996, and feature 24-foot to 30-foot minimum clear height; 120-foot to ... 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 »

Hillwood Enters Houston Industrial Market

HOUSTON – Hillwood, the large Texas-based real estate company, is entering the Houston industrial market with a 718,000-sf industrial park being developed in a joint venture with Copeland Commercial. “Hillwood is excited to enter the Houston market and we look forward to pursuing additional joint venture opportunities in the area,” said Chris Brown, Senior Vice President-Joint Ventures, Hillwood Investment Properties. ... Read More »

San Antonio’s Texas Center for Athletes, 21 Spurs Lane, is Sold

SAN ANTONIO – Transwestern’s San Antonio office  handled the sale of the Texas Center for Athletes medical office building next to the San Antonio Spurs training facility. Transwestern represented the seller, Sports SA Holdings LP. The 128,347-square-foot, four-story medical office building in San Antonio’s South Texas Medical Center is 98 percent leased. The building, located at 21 Spurs Lane, adjacent ... Read More »

Seven-Story Office Project to be Built on Austin Hilltop

Austin – Riverside Resources has begun construction on Capital Ridge, a 215,000 square foot 7-story Class A office building located on a hillside overlooking Loop 360, near the intersection of Loop 360 and Bee Cave Road. Houston-based Interfin Cos. is developing the 194-room Hotel Granduca Austin adjacent to the office building. The site, west of Dimensional Funds Advisors, is accessed ... Read More »

Avera Builds Up Assemblage in Dallas-Area Business Park

DALLAS – AVERA has added to its industrial land holdings North Texas with the acquisition of Valwood 40 in the Dallas area. Valwood 40 is a 7.2 acre site located in Valwood Park. Valwood Park is a 400 acre, master planned industrial park in the Dallas Market, developed by the Woodbine Development company in the Farmer’s Branch/Carrollton area, less than ... Read More »

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