HOUSTON – (Realty News Report) – Russell Ingrum, who has handled the sale of a number of Houston skyscrapers, has been named by CBRE to lead office institutional investment sales for CBRE Capital Markets in Texas.
Ingrum, who has sold over $4 billion in Houston office properties, will be relocating to Texas from where he was a senior leader in the firm’s Northern California Capital Markets team for the past eight years.
“Russell’s name is well known in the Houston market as a product of the successful results he has delivered our clients,” said Mark Taylor, Senior Managing Director, Investor Services for CBRE. “His local experience and his effective positioning of buildings being sold has produced some of the highest sales prices in the Houston area.”
In Houston, Ingrum closed 62 equity sales transactions totaling $4.4 billion and 21 million square feet. His transactions include the sale of Hess Tower, Energy Center 3 and 4, 1000 Main, and Marathon Oil Tower. He will work closely with CBRE’s Jared Chua, Todd Casper and Mike Hassler advising office institutional clients in Houston.
The $440 million ($525 per SF) sale of the 36-story 1000 Main building in 2015 to Germany-based Union Investment still ranks as one of downtown Houston’s most significant office deals.
Ingrum, a vice chairman, will be based in CBRE’s Dallas office. He is expected to hire additional office investment sales talent in Dallas, Austin and Houston, according to news reports.
“This (Texas) team will have a differentiating quality based on our existing connections in the region and the time I have spent on the West Coast, forging relationships and meeting new capital sources unfamiliar with the Texas markets,” said Ingrum.
Ingrum has closed more than 850 equity sales transactions in the U.S., consisting of 605 million square feet for a total consideration of $36 billion. He has consistently been a top national producer for CBRE in investment sales, representing some of the country’s largest equity/opportunity funds, life insurance companies and REITs.
“We are thrilled to have Russell return to Texas where he started his career. He has extensive experience and strong relationships in these markets and he knows the investment community in Texas well, allowing him to advise our clients immediately,” said Michael Caffey, President, South-Central Division & Latin America for CBRE.
“Russell has deep national and international investor relationships developed from his role as the national office practice leader and as a leading producer on the West Coast. We believe Russell will have real success assisting investors in deploying capital across markets from the West Coast into Texas markets,” said Chris Hipps, Senior Managing Director, Investor Services for CBRE.
April 28, 2020 Realty News Report Copyright 2020