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Category Archives: Trades

Insurance Companies Make Major Realty Buys

Insurance firms are on a commercial realty buying spree, according to an article by Ben Johnson on OKCReview.com. Major deals include: 1. Metropolitan Life purchase of  Reynolds Plantation 70 miles east of Atlanta, which includes The Ritz-Carlton Lodge, six  golf courses, four  marinas and nearly 5,000 acres of undeveloped golf and waterfront property. 2. Prudential Real Estate Investors,  in a joint ... Read More »

Industrial Project Sold in Southwest Houston

HOUSTON — Agarita Management bought  Commerce Center, an eight-building, 256,265-square-foot industrial facility in Houston. HFF marketed the properties exclusively on behalf of the seller, Insite Commercial Real Estate. Acquisition financing was secured through American Family Life Insurance, which was arranged by Kirk Oden with Trinity Finance in San Antonio. Commerce Center is located at 9000 Southwest Freeway close to Beltway ... Read More »

Pat Hicks Makes Value-Add Investment in Energy Corridor

HOUSTON –   Hicks Ventures, led by Patrick Hicks, purchase two office buildings in the Energy Corridor of West Houston. The buildings, located at 16350 Park Ten Place and 16360 Park Ten Place, include a total of 141,265 square feet. Managing Director Rudy Hubbard and Vice President Leah Gallagher led the Jones Lang LaSalle Capital Markets team on this transaction.  American ... Read More »

Khoshbin Buys Pair of Office Properties in Houston’s Greenspoint

HOUSTON –  The Khoshbin Company purchased two office buildings in the Greenspoint market in North Houston. The two properties are: 333 North Sam Houston Parkway East and 10700 Interstate 45 North, multi-tenant office buildings totaling 395,424 square feet. 333 North Sam Houston Parkway East and 10700 Interstate 45 North are located within the Greenspoint submarket of Houston close to the ... Read More »

Weingarten Selling Industrial Properties; Announces $382 Million Sale

HOUSTON – Weingarten Realty Investors announced the sale of 52 industrial buildings and warehouses as part of its move to sell off its industrial properties and focus only on retail centers. The Houston-based REIT will sell the properties to DRA Advisors LLC. The portfolio is comprised of 52 industrial  properties, aggregating approximately 9.6 million square feet located in   Florida, Georgia, Tennessee, ... Read More »

Camden Sells 456-Unit Apt. in Houston to Allen Harrison JV

HOUSTON – Allen Harrison Co. purchased a 456-unit West Houston aparment project in a joint-venture partnership with Dome Equities LLC and Equity Resource Investments. The seller was Houston-based Camden Property Trust, one of the largest apartment REITs in the nation. The project, Westchase Creek (formerly known as Camden Creek), is located at 3000 Woodland Park Drive between Westheimer and RichmondAvenue, ... Read More »

Spire Realty Buys Houston Office Building

HOUSTON – Spire Realty of Dallas has purchased the 1177 West Loop South office building in Houston’s Galleria area. The 18-story building was 96% leased at the time of sale. The 341,947-square-foot asset offers a well-diversified base of quality corporate tenants with an average tenure of 8.6 years. Rent growth in the Galleria submarket is expected to increase substantially over ... Read More »

USAA Buys Stake in New York Realty Investment Firm

SAN ANTONIO — USAA Real Estate Company and Square Mile Capital Management LLC, a New York City-based real estate investment firm, announced  that the two companies have joined forces, with USAA Real Estate Company making a strategic investment in Square Mile.  The amount of the investment was not disclosed. Led by founders Jeffrey B. Citrin and Craig H. Solomon, who ... Read More »

Houston Area Apartment Project Sold to Venterra

PEARLAND, Texas —  St. Andrews Apartments, a 472-unit, Class A multi-housing community in Pearland, Texas, has been sold to Venterra Realty. HFF marketed the property on behalf of the seller, a T-I-C ownership group managed by Joseph and Henry Mandelbaum of RealTax Inc. St. Andrews Apartments is situated on a 20-acre site at 9900 Broadway Street close to Highway 288, ... Read More »

Office Building Sold Near Houston’s Galleria

HOUSTON – Miami-based Parmenter Realty Partners purchased 2200 West Loop South, a 201,720-square-foot, Class A office building near Houston’s Galleria. The 2200 West Loop South building is located adjacent to the Intercontinental Hotel on the west side of Loop 610 between San Felipe and Westheimer Road.  The property was extensively renovated in 2000 and is 87 percent leased to tenants ... Read More »

Hines/J.P. Morgan Joint Venture Buys Plano Office Building and Development Site

DALLAS — Hines –  in a new joint venture with institutional investors advised by J.P. Morgan Asset Management – Global Real Assets, the acquisition of The Plaza at Legacy.  Formerly known as Computer Associates, the seven-story, 215,499-square-foot office building is located in the LegacyBusinessPark, in the Far North Dallas submarket of Plano, Texas.  A future development site,   an adjacent 12-acre ... Read More »

Miami Group Buys 800,000-sf Brookhollow Office Complex in Houston

HOUSTON –  Parmenter Realty Partners has acquired Brookhollow Central, a three-building office complex totaling 800,000 square feet, on the northwest part of Loop 610 in Houston, according to a report by Katherine Feser of the Houston Chronicle. The seller was  TPG CalSTRS, a joint venture of Thomas Properties Group and the California State Teachers Retirement System. Miami-based Parmenter also owns the ... Read More »

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