Saturday , 25 May 2019
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Alliance Residential Buys Med Center Apartments for $98 Million

HOUSTON – (Realty News Report) – An Alliance Residential partnership has acquired the 474-unit Archstone Toscano apartments in Houston for $98 million. The apartments, 2900 N. Braeswood Blvd., are located near the Texas Medical Center at Brompton Road, just west of Kirby Drive. The project is on the north side of Brays Bayou. The seller was AvalonBay Communities, a REIT ... Read More »

Houston Hotel Listed for Disposition

HOUSTON – (Realty News Report) – A new Houston-area hotel has become a “distressed asset” and is listed to be sold off by CBRE Hotels, according to Rahul Bijlani, senior vice president of CBRE Hotels. Bijlani, speaking at the CBRE press luncheon last week, said the hotel is affiliated with the Marriott chain, but he declined to fully identify the ... Read More »

Old Stomping Grounds: Fred Caldwell Starts Project in the Shadow of Kyle Field

COLLEGE STATION, Texas  –  (Realty News Report) – Caldwell Communities, a Houston firm led by Fred Caldwell, has opened the 400-acre Mission Ranch community in College Station, near Texas A&M University and the Kyle Field football stadium. The project will have 530 homes with prices starting in the $300s. In the early 1980s, Caldwell played defensive line on the Texas ... Read More »

Major Kuwaiti Asset Manager Makes a Play in Houston Real Estate

HOUSTON – (Realty News Report) – Kamco Investment Co., a major Kuwaiti asset manager, has completed  significant investment in Houston real estate, which has attracted a number of large foreign investors over the years. Kamco Investment partnered with Northridge Capital, based in Washington, DC, to acquire the new HP Plaza, a 378,000-SF office development in Springwoods Village development north of ... Read More »

Copper Lakes Project Sold

HOUSTON –  (Realty News Report) – Houston developer BCTS Partners, LLC, has sold the 91%-leased Copper Lakes Shopping Center in the Cy-Fair submarket of west Houston to Parkway Brothers Investment, Inc. Copper Lakes is a two-building project with 16,080 SF of retail and 7,000 SF of office space on 2.68 acres at 17111 and 17121 West Road, respectively. Austen Baldridge and ... Read More »

Houston’s Gain of 1 Million in Population is Great for Real Estate, CBRE Says

HOUSTON – (Realty News Report) – The Houston metro area has gained more than 1 million people since 2010, a growth rate that is fueling the Houston’s real estate markets and the region’s overall economy, according to top CBRE executives. Noting that new U.S. Census Bureau figures show the Greater Houston area has hit 7 million, CBRE senior managing director ... Read More »

Realty News Report’s Texas Real Estate Briefs

HOUSTON LEASING Hart Publishing has signed a lease for 30,039 SF at 1616 S. Voss Road. CBRE represented the landlord, SanVoss Properties, while Jack Warmington, Greg Marconi, Neal Golden, Derek Myers and Mandy Pope of Newmark Knight Frank represented the tenant. ………………………………… Churchill Oil and Gas has leased 7,440 SF at 600 Travis St. The landlord, First Reserve Corporation, was represented by ... Read More »

Medistar Developing Multifamily Near Texas Medical Center

HOUSTON – (Realty News Report) – Medistar Corp., a Houston development firm led by Monzer Hourani, is developing a 326-unit apartment project called Medistar Grand. The project is located on six acres near the intersection of Grand Blvd. and Corder Street, just southeast of the Texas Medical Center. Pearlmark, a Chicago investment firm, provided $8.4 million in mezzanine financing. Construction ... Read More »

Hartman REIT Buys West Houston Office Building on the Bayou

HOUSTON – (Realty News Report) – Hartman Income REIT has acquired the Ashford on the Bayou, a 127,000-SF office building in West Houston. HFF’s Dan Miller represented the seller, RPD Catalyst, a Los Angeles-based real estate investor. The 5-story building, 1001 S Dairy Ashford, is located along Buffalo Bayou, just south of Memorial Drive. Recently renovated, the building is 55 ... Read More »

Opportunity Zones: Latest Investment Craze Pumps Up Prices

HOUSTON –  (Realty News Report) – Opportunity Zones, the new tax benefit that reduces the burden of capital gains tax, is elevating property prices around the nation. Opportunity Zones are new and it’s difficult to gauge the impact until more sales have been closed. But the zones are creating a major buzz in the real estate community. “Investors are gaining ... Read More »

Affordable Housing: Avenue Builds Homes on North Side

HOUSTON – (By Dale King, Realty News Report) – Avenue, a local nonprofit dedicated to building affordable homes, knows how urgently low- and moderate-income buyers want to purchase affordable, energy-efficient single-family dwellings. The organization just completed Phase I of Avenue Meadows, a new community of 10 energy-efficient, reasonably priced residences in Houston’s Northline neighborhood. Soon after those specially designed abodes ... Read More »

Compass Realty Firm Leases Full-Floor in New Office Tower Near Highland Village

HOUSTON – (Realty News Report) – Compass Real Estate, a rapidly expanding national residential brokerage, leased a full floor in Stonelake Capital Partners’ new Park Place Tower under construction on Westheimer Road inside Loop 610. The 15-story, 210,000-SF Park Place office building has also gained Charles Schwab as a tenant and the property is now 21 percent leased ahead of its ... Read More »

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