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Category Archives: Trades

Gaedeke Buys Dallas Office Tower

DALLAS – Gaedeke Holdings XIV of Dallas has acquired 17Seventeen, a 19-story office tower in the Uptown/Turtle Creek market near downtown Dallas. The 369,000-SF tower, which opened in 2010, fetched a sales price over $500 per SF. The seller was a  joint venture between Granite Properties Inc. and MetLife. The office tower, 1717 McKinney Ave., is near the popular Klyde ... Read More »

Rosemont Realty Buys Office Building in Houston’s Energy Corridor

HOUSTON – Rosemont Realty, LLC, a leading commercial real based in Santa Fe, N.M., has acquired Kirkwood Tower in Houston’ Energy Corridor. The acquisition of the 15-story tower adds 285,682 rentable square feet of Class A office space to Rosemont Realty’s portfolio. It brings the company’s total square footage in the greater Houston area to nearly 2.5 million square feet, ... Read More »

Groundbreaking in Nov. for 1,000-Room Convention Hotel in Austin

AUSTIN – A groundbreaking will be held next week for The Fairmont Austin, a 1,066-room hotel adjacent to the Austin Convention Center. The hotel’s developer, Manchester Texas Financial Group, secured financing from Colony Capital, LLC for its $370 million luxury hotel, which is slated to open June 3, 2017. “It’s time for construction of the Fairmont Austin to fire on ... Read More »

Biggest Deal Ever? Foreign Investors Bid Heavy on a Houston Trophy Tower

HOUSTON – A dozen investment groups, including foreign buyers, submitted bids this week to buy the 1000 Main building in downtown Houston – a transaction that may become the biggest deal ever in the Bayou City. Foreign buyers, including players from Europe, the Far East, the Middle East and Canada submitted offers to purchase the 36-story building, said Bernard Branca, ... Read More »

Colliers: Austin’s Office Construction Up; Vacancy Down

AUSTIN – Austin has more than 2.4 million square feet of office space under construction and seven new buildings were completed in the second quarter, according to the Colliers International real estate firm. Over 188,000 SF of new office inventory delivered during the second quarter, bringing 2014 year-to-date delivered inventory to 587,657 SF, Colliers reported in its second quarter research ... Read More »

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 »

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