Liviu Oltean
Market Snapshot: Houston’s High Hopes
The most populous city in Texas is doing all right.
Stream Realty Jumpstarts 2015 with Multiple Industrial Leases
Stream Realty Partners has had a very busy new year. In spite of the recent concerns regarding the energy industry, in the first 45 days of 2015, the Dallas-based company managed to execute over 700,000 square feet of new, industrial leases in Houston.
Contest Offers Free Office Space for Startups
StartupWeek, a five-day event that celebrates entrepreneurship and innovation, will be held in Phoenix this February between the 23rd and 27th. And, as part of this event, Ironline Partners, owner of the recently redesigned 111 W. Monroe office tower, is offering a startup company the possibility of winning six months of free office space at their building.
St. Jude Children’s Research Hospital Announces Opening of $198M Center
Nonprofit medical corporation St. Jude Children’s Research Hospital recently announced the opening of the Kay Research and Care Center. The $198 million center will now house the Eric Trump Foundation Surgery and ICU Center; the Marlo Thomas Center for Global Education and Collaboration; and the St. Jude Red Frog Events Proton Therapy Center, which is slated for a fall opening.
BHW Breaks Ground on Luxury Apartment Community in Lake Jackson
Houston-based BHW recently broke ground for Plantation Park, a 238-unit luxury apartment community in Lake Jackson, TX. The first phase of the class A residential complex will be developed on a 27.9-acre site on Plantation Drive and is expected to span across 16 acres. The remaining acreage might be used later on for a second phase of apartments, pad sales or for other commercial projects.
New Active Adult Community Coming to Frisco
The City Council of Frisco unanimously approved the issuance of $70 million in tax exempt bonds for the development of WholeLife Frisco™, an active adult community. The approval followed a public TEFRA hearing (Tax Equity and Fiscal Responsibility Act), a prerequisite for tax-exempt private-activity bonds.
Tempe Office Complex Commands $41M
CBRE announced that they brokered the recent sale of Papago Arroyo, a three-building office complex in Tempe, AZ. Totaling 279,503 square feet, the three office buildings are located at 1255,1275 and 1295 West Washington Street, just minutes away from Sky Harbor International Airport and within walking distance of the Valley Metro Light Rail Station for Papago Park Center.
BNY Subsidiary Exits Houston Market
CenterSquare Investment Management, the real asset investment subsidiary of BNY Mellon, announced its exit from the Houston real estate market with the sale of 1301 Fannin Street and the Villas at Hermann Park. The two assets were acquired through Urdang Value-Added Fund II (UVAF II), a $463 million value-added closed-end fund.
SkyHouse Dallas Opens Doors with Rooftop Cocktail Party
A rooftop cocktail party to be held Feb. 19th will mark the official opening of SkyHouse Dallas, a 24-story luxury tower located in the Victory Park neighborhood in Dallas. Developed by Atlanta-based Novare Group and Batson-Cook Development Company, the tower is part of the SkyHouse® brand, which represents a multifamily program with an investment of almost $400 million dollars.