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Category Archives: Trades

Student Housing Project Near Texas A&M is Sold

COLLEGE STATION, Texas – A joint venture of Alex. Brown Realty, and Asset Plus Cos. of Houston has sold Crossing Place Apartments in College Station, Texas to Seattle-based Horizon Realty Advisors. HFF represented the Seller. The 384-bed complex at 400 Southwest Parkway is located one mile from the Texas A&M University campus. ABR and Asset Plus purchased the property in ... Read More »

South Texas Bank of America Building Sold

CORPUS CHRISTI, Texas - Colliers International has handled the sale of Bank of America Tower, 500 N. Shoreline Boulevard, Corpus Christi, Texas.  500 N. Shoreline Boulevard is a 350,000-sf, Class A, 12-story office tower with two-story atrium and detached parking garage.  The building is located on Corpus Christi Bay in the central business district of Corpus Christi.  David L. Carter and Martin O’Malley of Colliers International ... Read More »

REIT Buys Apartment Projects in Richardson, Texas and Nashville

DALLAS – Landmark Apartment Trust of America, a multifamily real estate investment trust (REIT), acquired two multifamily properties in separate transactions for a combined purchase price of $33.5 million. In the first transaction, LATA acquired Landmark at Preston Wood, a 194-unit apartment community located at 333 Preston Wood Drive in Richardson, Texas, a suburb of Dallas. Formerly known as Mission ... Read More »

Houston Shopping Center Sells for $41.6 Million

HOUSTON – AmREIT, Inc., has acquired Woodlake Square Shopping Center, a 160,761 sf shopping center in Houston, for $41.6 million. The center is anchored by Randalls and Walgreens. Woodlake Square, located at the northeast corner of Westheimer and Gessner, has average household income in a one-mile radius of $69,595, and 82,692 households in a three-mile radius. Woodlake Square was purchased from ... Read More »

Cousins Buys $1.1 Billion of Texas Properties: Greenway Plaza and Ft. Worth Tower

HOUSTON – Cousins Properties closed on its purchase of the 10-building Greenway Plaza project in Houston for $950 million, the Atlanta-based REIT announced. The $1.1 billion deal, announced earlier this year, also gives Cousins ownership of 777 Main Street, a 980,000-sf Class A building in downtown Fort Worth. The seller is a joint venture operated by Crescent Real Estate Holdings ... Read More »

AmReit Contracts to Buy Woodlake Center for $41.6 Million

HOUSTON – AmREIT, a Houston-based retail REIT, has contracted to buy the Woodlake Square Shopping Center at 9600 Westheimer Road for $41.6 million. The 161,000-sf center is 88 percent leased with Randall’s grocery, Walgreens and Jos. A Banks as key tenants. The seller is VIF II/AmREIT Woodlake, LP, a Texas limited partnership. Located near the corner of Westheimer and S. ... Read More »

Multi-Family Wire

RICHMOND, Va. – Landmark Apartment Trust of America, a multifamily REIT bought three multifamily properties valued at $42.15 million from Elco Landmark Residential Holdings, MB Equity Holdings, Inc. and Legacy Partners. Collectively, the properties contain 703 units and are 94 percent occupied. The projects are in Clearwater, Fla.; Melbourne Fla; and Raleigh, N.C. HOUSTON – Cortland Partners acquired three communities ... Read More »

Hines Buys Archstone Stake in DC Project

WASHINGTON, D.C. – The Washington D.C. office of Hines announced the acquisition of the ownership interest of their partner, Archstone, in the mixed-use CityCenterDC project that is currently under construction in downtown Washington, D.C. The acquisition of Archstone’s interest in CityCenterDC was completed in connection with the acquisition by Equity Residential and AvalonBay Communities of Archstone Enterprises LP. The Hines ... Read More »

Shorenstein Buys Exxon Mobil Tower for $50 Million

By Ralph Bivins HOUSTON – Shorenstein Properties has acquired the 45-story Exxon Mobil building in downtown Houston for a redevelopment that will restore the property to Class A status. The Exxon Mobil building, located at 800 Bell at Travis, was built in 1962 as the headquarters of Humble Oil & Refining, a predecessor to Exxon Mobil. The sales price was ... Read More »

Wells REIT Buys San Fran Tower

SAN FRANCISCO – Wells Real Estate Investment Trust II has acquired 333 Market Street, a 33-story office tower in the heart of San Francisco’s Financial District. The Class A asset was purchased from the Korean Federation of Community Credit Cooperatives.  The 657,000-sf building, constructed in 1979, has undergone over $80 million in capital investments and tenant improvements over the past ... Read More »

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