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Category Archives: Trades

Texas Apartment Roundup

 HOUSTON – Crossbeam Capital bought the 348-unit Enclave at Woodbridge Apartments, 15015 W. Airport Blvd. in the Sugar Land area on Houston’s southwest side.  Crossbeam, formed as a result of the meger of Maryland-based Crossbeam Capital and Houston-based Concierge Asset Management, has been active in Texas multifamily recently. SAN ANTONIO – Hendricks & Partners  announced the sale of Reserve in ... Read More »

Houston Office/Warehouse Construction Planned

HOUSTON – Vickery-Aldine Bender, LLC, a United Equities sponsored entityhas acquired 4 acres of land to be developed into a multiple building industrial project totaling 42,720 square feet of Office/Warehouses. The site is at the northeast corner of Vickery Drive and  Aldine Bender Road in Houston. Tom Condon, Jr. with BETZ Commercial Brokerage, Inc. represented the Seller and Anthony Clay with ... Read More »

Boxer Buys Building in NW Houston

HOUSTON –  Houston-based Boxer Property  has purchased the eight-story Wells Fargo Building at 13201 Northwest Freeway in Houston. The 134,766 square foot  office building has a current occupancy of 64 percent and boasts full service Class A amenities. 13201 Northwest Fwy is located near the Northwest side of Houston, at the corner of Hwy 290 and Hollister, midway between Loop 610 ... Read More »

Boxer Buys Two Dallas Office Buildings

 Dallas – Houston-based Boxer Property acquired two office buildings in Dallas — Office Alpha in North Dallas, 13140 Coit Road and 14800 Quorum in the Quorum Business Park.   Office Alpha is 101,977 square foot five story office building currently 84 percent occupied and boasts numerous recent renovations. Office Alpha is centrally located just a few minutes of the Dallas ... Read More »

Fuller Buys Another Building in Houston’s Bering/San Felipe Area

HOUSTON – The 1800 Bering office building near Houston’s Galleria area has been sold to a Fuller Realty Advisors joint venture group, according to a report in the Houston Chronicle. The 10-story, 171,000 square-foot building was constructed in 1982. The project is  is 85 percent leased with Flagstone Financial Services and Prudential Insurance Co. are among the tenants, according to the story ... Read More »

Houston Industrial Building Sold

HOUSTON — Satsuma Distribution Center located at 9020 Jackrabbit Road in the Northwest submarket has been sold.  John Nicholson of Transwestern represented the buyer in the transaction, KTR Capital Partners. The seller, an affiliate of Pinpoint Commercial, was represented by Jeff Everist and Gray Gilbert of CBRE. The property was purchased for an undisclosed amount. Satsuma Distribution Center is a  ... Read More »

SL Green Buys Grand Central Tower

New York, NY – SL Green Realty Corp., New York City’s largest commercial office landlord, has acquired all of the interests in 51 E. 42nd Street, an 18-story Midtown Manhattan office building that faces Grand Central Terminal along Vanderbilt Avenue.With this transaction, SL Green now owns all of the buildings on the block bounded by Madison and Vanderbilt Avenues between ... Read More »

Canadian REIT Buying Hess Tower for a Record Price in Houston

HOUSTON — Hess Tower, a new 29-story building in downtown Houston, is reportedly being sold to H and R REIT, a Canadian-based real estate investor, for a record $445 million. The deal, if completed as planned, would amount to a sales price of $527 per square foot for the 845,000 sf tower, according to Real Estate Alert newsletter, a respected ... Read More »

Houston Power Center Sold

HOUSTON – HFF has closed the sale of The Crossing at Fort Bend, a 116,064-square-foot retail power center in Sugar Land, Texas. HFF marketed the property on behalf of the seller. MCOM SHOPPING CENTERS LLC purchased the asset for an undisclosed amount and Prosperity Bank provided third party financing for the buyer. The Crossing at Fort Bend is situated on ... Read More »

NBA Star David Robinson’s Admiral Fund Buys Stake in Houston Hotel

HOUSTON – The Admiral Capital Real Estate Fund LP  announced the acquisition of a preferred equity interest in the Hilton Garden Inn Houston Energy Corridor in west Houston. The investment marks Admiral’s first in the hotel sector and third acquisition of the fund. The 190 room hotel is situated in the heart of the Energy Corridor and caters to the ... Read More »

MetLife Sell Stake in 71-story Wells Fargo Plaza

HOUSTON -MetLife has sold a 50% interest in the 71-story Wells Fargo Plaza in downtown Houston to New York State Common Retirement Fund. MetLife will retain asset management responsibilities and the remaining 50% interest.  “Selling a partial interest in Wells Fargo Plaza is an excellent opportunity for MetLife to diversify its portfolio while still holding a stake in this top tier ... Read More »

Hines Sells Retail Center in Mexico

MEXICO CITY – The Mexico City office of Hines announced  the sale of City Center Pitic to MexFund S.A.P.I, a Mexico-based real estate investment firm.  Financials on the deal were not disclosed. The Mexico City office of CBRE represented Hines in the transaction, while MexFund was self-represented. The 188,063-square-foot, open-air retail center contains more than 60 shops, plus Walmart Supercenter ... Read More »

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