Wednesday , 22 January 2020
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Fogelman Properties Buys Another Houston Project

HOUSTON – (Realty News Report) – Fogelman Properties, a Memphis-based multifamily firm, has acquired two apartment communities, including one in Houston, for $83 million. Fogelman bought two communities: Retreat at Steeplechase, located in Houston, and the Lakeside at Arbor Place, located in the west Atlanta suburb of Douglasville, Ga. Built in 1998, Retreat at Steeplechase is a 390-unit resort-style apartment community located in ... Read More »

Heritage Plaza Tower Getting a Redo, as Brookfield Continues to Reboot its Downtown Portfolio

HOUSTON – (Realty News Report) – Brookfield Properties is launching a major redo of the 53-story Heritage Plaza, a 1.1 million SF tower at 1111 Bagby in downtown Houston. This renovation is part of massive undertaking by Brookfield to upgrade its downtown portfolio which includes two multi-building office complexes – Houston Center and Allen Center. Kirksey Architecture is designing the ... Read More »

Texas Apartment Deal: Cortland Partners Pays $1.2 Billion for Texas-Heavy Pure Multi-Family REIT

ATLANTA – (Realty News Report) – Cortland Partners has acquired Pure Multi-Family REIT of Vancouver for $1.2 billion. The Pure REIT, which had a portfolio of 22 apartment complexes with 7,085 units entirely located in Texas and Arizona. Atlanta-based Cortland has regional offices in Houston, Dallas, Denver, Charlotte and Orlando with a portfolio of 60,000 units, including properties in every major ... Read More »

The Biggest Year for Multifamily Investment Trades in the History of Houston Real Estate

HOUSTON – (Realty News Report) – A record $5.1 billion of multifamily assets were sold in the Houston area last year, an all-time record, reported Yardi Matrix. That amounted to 300 apartment complexes  being traded in 2018, roughly double to the number sold in 2017. Solid job growth contributed to the jump in sales. A number of investors were attracted ... Read More »

Two New Towers to be Erected in Memorial City

HOUSTON – (Realty News Report) – MetroNational is developing a 25-story residential tower and a 9-story office building in its Memorial City development along the Katy Freeway in West Houston. The building will be located on four acres at the southwest corner of Bunker Hill Road and the Katy Freeway. The property is one of the last remaining undeveloped corner ... Read More »

Houston’s Warehouse Construction Boom: Vacancy Climbing as Supply is Added

HOUSTON  – (By Kyle Hagerty for Realty News Report) – Houston’s industrial vacancy may finally be catching up to the blazing pace of construction in recent quarters. Overall vacancy is at 6.5%, up from this time last year at 5.7%, thanks to more than 6.3 million square feet of vacant space being added to the market. That’s half the space ... Read More »

Why International Buyers are Pulling Back From US Realty

HOUSTON – (By Dale King, Realty News Report) – A strong dollar may be good for American workers and the nation in general, but it has apparently cooled foreigners’ fervor for buying homes in the United States, says the chairman of the 130,000-member Texas Realtors. “It was the total volume that dropped,” said Tray Bates of Texas Realtors. “As the ... Read More »

Maximum Internet: New Hines Tower in Downtown Houston First to be Certified WiredScore Platinum

HOUSTON – (Realty News Report) – The new 47-story Texas Tower office project has been awarded WiredScore’s Certified Platinum designation recognizing its advanced internet connectivity. The Texas Tower, a Hines and Ivanhoe Cambridge development under construction on Texas Avenue in downtown Houston, will be the first ground-up building in Houston to have the Platinum certification. A secure, reliable and fast ... Read More »

Tilman Fertitta Buying Del Frisco’s Steakhouses

HOUSTON – (Realty News Report) – Houstonian Tilman J. Fertitta announced that Landry’s, Inc. has agreed to acquire the Del Frisco’s Double Eagle Steakhouses and the Del Frisco’s Grilles, which has 35 restaurants in 13 states. The seller is L Catterton, the largest and most global consumer-focused private equity firm. The price was not disclosed, but it was estimated to be ... Read More »

Law Firm Leases Space in Hines Tower in Downtown Houston

HOUSTON – (Realty News Report) – Hines, the international real estate firm, announced that Dallas-based law firm Shackelford, Bowen, McKinley & Norton has signed a new 15,000-square-foot lease at 717 Texas, a downtown tower near the Theater District. Hines recently completed a renovation to the 33-story building creating a hospitality-inspired lobby with new furnishings, wall and elevator finishes, lighting and security console upgrades. ... Read More »

Iliad Realty Group Buys 542 Units in NW Houston

HOUSTON – (Realty News Report) –  Iliad Realty Group has acquired the 542-unit Villa Nueva Apartments at 5300 West Gulf Bank Road in northwest Houston. Greystone provided a $27 million bridge loan for the acquisition of the property, which was constructed in 1980.  Greystone’s Daniel Wolins originated the funding. Sal Torre of Estreich & Co. brokered the deal. Fort Worth-based ... Read More »

Trammell Crow Acquires SMU Campus in Plano

PLANO, Texas – (Realty News Report) — Trammell Crow Co. has acquired the 16-acre SMU campus in Plano for a future development. Newmark Knight Frank handled the sale of the SMU-in-Plano campus, including four buildings on 16 acres located at 5228-5236 Tennyson Parkway in Plano. The SMU-in-Plano campus is a satellite campus of Southern Methodist University (SMU), nationally ranked private ... Read More »

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