BREAKING NEWS

Unilev Taps Stream Realty

58 Cities Drop Off Million-Dollar Home List

RNR Real Estate Briefs – HOU, AUS, DAL & more

Offices For Energy Transition

Partners Buys Former Hartman Properties

Griffin Partners Gains Tenants at Loop Central

REALTY NEWS REPORT - Logo

Banner
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact
FacebookLinkedinYoutubeEmail
REALTY NEWS REPORT - Logo

Equus Buys Two Houston Office Buildings from Parkway Properties for $60 Million

by Realty News ReportFebruary 8, 2016
Share0

 

5300 Memorial Drive
5300 Memorial Drive

HOUSTON – An affiliate of Equus Capital Partners has acquired two Houston office buildings, totaling 302,000 SF for $60 million.

Equus acquired: 5300 Memorial Drive, a 154,000-SF building just west of Shepherd Drive in the Rice Military community; and a building at 10497 Town & Country Way near the City Centre development.

Equus, which is headquartered in the Philadelphia area, plans to upgrade the buildings, says Equus vice president Kyle Turner. The seller was an affiliate of Orlando-based Parkway Properties, which said it will recognize a gain of $37.8 million on the sale of the two buildings.

“This transaction provides the opportunity to acquire two best in class niche office assets that are both located in in-fill amenity rich areas.  With our plans for significant capital upgrades and added amenities on-site, we believe both properties will become even more attractive and sought after by tenants in the marketplace,” said Kyle Turner, Vice President of Equus Capital Partners, who oversaw the acquisition for the firm, along with Roy Perry, Senior Vice President, and Lauren Nygren, Acquisitions Analyst.

10497 Town and Country Way
10497 Town and Country Way

The acquisition was made on behalf of Equus Investment Partnership X, L.P. (“Fund X”), a discretionary fund managed by Equus.

The 5300 Memorial Drive building is a 153,671 square-foot property, is located approximately 3 miles west of downtown Houston on the north side of Memorial Drive.

The 10497 Town & Country Way is located in the Katy Freeway East Submarket of Houston and is approximately 14 miles west of downtown Houston. The 148,790 square-foot property is situated along the southeast side of the convergence of Beltway 8 and Interstate 10.

Feb. 8, 2016

 

Share0
previous post
A Mild Dip Ahead for Houston in 2016: Q&A with Dr. Ted C. Jones of Stewart Title
next post
Texas Real Estate Briefs From Realty News Report

Related posts

Unilev Taps Stream Realty

Realty News ReportMarch 21, 2023

58 Cities Drop Off Million-Dollar Home List

Realty News ReportMarch 20, 2023

RNR Real Estate Briefs – HOU, AUS, DAL & more

Realty News ReportMarch 18, 2023March 18, 2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Search News

Partners Ad
CBRE Ad
Arch Con Corporation Ad
Hines Ad
Avera Ad
Ziegler Cooper Ad
Lee & Associates Ad
2021 Realty News Report Ad
Property Logos
RNR - Lincoln Property Company
Hal Gordon - Property Tax Lawyer
Hunington Ad
Evergreen Commercial Realty
STREAM Ad
Hunington Ad

Let's Connect

logo
About US
Author Ralph Bivins is editor of Realty News Report, which covers regional and national news. Bivins recently received the Gold Award for Best Column in the National Association of Real Estate Editors Journalism Competition. Contact us
Follow us
FacebookLinkedinYoutubeEmail
@2022 All Right Reserved. Powered by CGS Digital Marketing
REALTY NEWS REPORT - Logo
FacebookLinkedinYoutubeEmail
  • Home
  • Categories
    • Breaking News
    • Houston
    • Residential
    • New Development
    • People
    • Office
    • Multi-Family
    • Capital Markets
    • Texas
    • Retail
    • Hospitality
    • Industrial
    • Land
    • Lease Brief
    • Medical
    • National
    • Realty News Report
    • Trades
    • Uncategorized
  • Archive
  • Subscribe
  • The Ralph Bivins Project
  • About
  • Contact