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Dallas REIT Buys Two Houston Apartment Complexes for $108 Million

HOUSTON — NexPoint Residential Trust, a Dallas-based REIT, bought two Houston apartment complexes for $108 million. The REIT bought the 734-unit Old Farm Apartment Homes at 2500 Old Farm Road for $84.7 million or $115,000 a unit. The seller was CBRE Global Investors. NexPoint also purchased 190-unit Stone Creek at Old Farm Apartments, 8585 Woodway Drive from Greystar for $23.3 ... Read More »

New Houston REIT to Own Greenway Plaza and Other Major Buildings in Wake of Cousins/Parkway Merger

HOUSTON – Cousins Properties and Parkway Properties – two large REITs with significant Houston holdings – have agreed to merge and spin-off a new REIT of Houston office towers. In a deal slated to close at year-end, Atlanta-based Cousins will acquire Orlando-based Parkway for $2 billion, paid in stock. The new Houston REIT will own five Houston office properties with ... Read More »

Kimco Sells Louisiana Shopping Center for $24 Million

LAFAYETTE, La. – Acadiana Square, a 244,768-square-foot retail power center in Lafayette, La. has been sold for $24 million. Holliday Fenoglio Fowler (HFF) marketed the property on behalf of the seller, Kimco Realty Corp.  A partnership between DRA Advisors and RCG Ventures LLC purchased the shopping center free and clear of existing debt. “Acadiana Square is the premier retail destination ... Read More »

REIT Buys Medical Buildings in Katy for $40.4 Million

KATY, Texas – Physicians Realty Trust, a Milwaukee-based REIT, has acquired a medical office building adjacent to a Memorial Hermann facility in Katy for $40.4 million. Marcus & Millichap arranged the sale of the 108,066-square-foot, two-building, medical office portfolio anchored by a Memorial Hermann Rehabilitation Hospital and Ambulatory Surgery Center. Scott Niedergang and Gino Lollio, vice presidents investments and directors ... Read More »

Hartman Buys Office Project in Greenspoint

HOUSTON – Hartman Short Term Income Properties XX purchases 400 North Belt, a 230,872-square-foot office project in Houston’s Greenspoint office submarket in north Houston. Holliday Fenoglio Fowler marketed the property on behalf of the seller.  Hartman 400 North Belt, a subsidiary of Hartman Short Term Income Properties XX, Inc., purchased the building for $10.2 million from Parkway Properties. 400 North ... Read More »

Houston Firm Buying 149 Hotels from Goldman Sachs Unit for $1.7 Billion

HOUSTON – Moody National REIT I, a Houston-based hotel group, has agreed to buy 149 hotels from a real estate arm of Goldman Sachs for $1.7 billion. The deal represents a huge growth initiative for the Houston REIT, which had a portfolio of only seven hotels at the beginning of 2015. The hotel portfolio includes 14,000 rooms spread across 32 ... Read More »

The First Mexican REIT Buys Mexico City Center from Hines

MEXICO CITY – Hines has sold its CityCenter Bosque Esmeralda to FibraShop, the first Mexican Real Estate Investment Trust, or REIT. The 318,353,-square-foot shopping center is located in the metropolitan area of Mexico City. Savills marketed the property on behalf of Hines. Designed by KA Architecture of Cincinnati, the four-level, open-air center features more than 90 restaurants and retailers, along ... Read More »

Stewart Title Extends Big Lease in Cousins’ Post Oak Central Complex in Houston

HOUSTON –  Stewart Information Services Corp., the parent company of Stewart Title,  signed a 230,000 square foot lease extension for its headquarters offices at the Post Oak Central office complex near the Galleria in Houston. Atlanta-based Cousins Properties, owner of Post Oak Central,  announced the lease extension. Stewart, whose lease was scheduled to expire in September 2016, extended its term for three ... Read More »

159,175-sf Houston Office Building Sold for $26.2 Million

HOUSTON – Sam Houston Crossing I, a 159,175 square-foot office building in northwest Houston has been purchased for $26.2 million. The buyer ia a joint venture between Houston-based Fuller Realty Partners and Independencia. HFF marketed the property on behalf of the sellers, Duke Realty Corporation and Chambers Street Properties. Sam Houston Crossing I is located in Houston’s West Belt Corridor ... Read More »

Cousins Starts $44 Million Office Development in Austin

AUSTIN – Cousins Properties Inc.  plans to commence construction on Research Park V, a $44 million project in northwest  Austin. The 173,000 square-foot office development is the last building in a five-building complex which Cousins has developed. “We have a long, successful history in Austin and are very excited about the opportunity to bring new Class-A product to the rapidly tightening ... 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 »

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 »

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