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Brookfield Acquires Houston Center for $875 Million; Major Redevelopment Planned

HOUSTON – (By Ralph Bivins, Realty News Report) – Brookfield Property Partners has finalized its acquisition Houston Center, a collection of four downtown skyscrapers and a 200,000-SF retail center. The $875 million sale of the 4.2 million SF Houston Center is one of the biggest real estate transactions ever completed in Houston. Brookfield is expected to spend heavily – well ... Read More »

Realty News Report’s Legends of Real Estate Award: Redevelopment of the Year – Allen Center, Paul Frazier of Brookfield Property

THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has selected the most significant people, projects, deals and ideas of the Houston real estate market for 2016. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments. LEGEND: REDEVELOPMENT OF THE ... Read More »

Brookfield Acquires DoubleTree Hotel in Downtown Houston

HOUSTON –  Brookfield Property Partners has acquired the 350-room  DoubleTree Houston Hotel in downtown Houston. The 20-story hotel is adjacent to Brookfield’s Allen Center, a 7-acre urban office park that is undergoing a $48.5 million redevelopment. Brookfield Property will be consulting with architects for a major renovation of the DoubleTree, 400 Dallas St, said Paul Frazier, executive vice president and ... Read More »

Hearst Selects HFF to Market Houston Chronicle Downtown Property

HOUSTON – Hearst Corp. has selected the HFF commercial real estate brokerage firm to handle the sale of its Houston Chronicle property in downtown Houston. Hearst interviewed a number of Houston’s leading commercial real estate brokers before selecting HFF, a national firm with a strong local office. The 10-story Chronicle building, 801 Texas Ave., covers a full city block and ... Read More »

4 Million Square Feet of Downtown Houston Office Space Hits the Market

HOUSTON – Brookfield Office Properties is offering investors an opportunity to buy a stake in 4 million square feet of downtown Houston office properties including the Allen Center complex. Brookfield is expecting to receive $1 billion for a minority stake in its Houston buildings along with nine smaller buildings in Washington, DC and the Grace Building in Manhattan, according to ... Read More »

Verde Realty of Houston to be Purchased for $366 Million

HOUSTON – Verde Realty, a Houston-based REIT, will be purchased by Brookfield Asset Management and Hillwood Investment Properties for $366 million. Verde Realty owns 78 industrial properties in Texas, California, suburban Chicago, Maryland, Utah and northern Mexico. “This merger transaction with Brookfield ensures that Verde is well-positioned to benefit from renewed demand for industrial space which will increase as the ... Read More »

Paul Layne to Lead Howard Hughes Master Planned Communities Unit

HOUSTON –The Howard Hughes Corp. announced Paul Layne  will join the company as Executive Vice President, Master Planned       Communities. Layne will report to Grant Herlitz, President of The Howard Hughes Corporation, and will be based  in Houston near both The Woodlands and Bridgeland. Previously, Layne was Executive Vice President at Brookfield  Properties Corp., which has a 9.7  million square foot office ... Read More »

$1 Billion Warehouse Play by Ross Perot Jr. and Brookfield

DALLAS — Brookfield Asset Management and Hillwood, a Dallas/Fort Worth-based real estate investor and developer owned by Ross Perot, Jr., announced today a joint venture to acquire, develop and  manage industrial property, principally large warehouses, across the United States. With an equity commitment of $400 million, the partnership is expected to deploy up to $1 billion within the first three years. Hillwood will locate industrial ... Read More »

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