Houston

Dallas-based Trammell Crow Co. and Artis REIT announced recently that they closed on the acquisition of two land tracts in Missouri City, TX, where the companies plan to develop Park8Ninety, a new, Class A industrial business park.

The Downtown Redevelopment Authority (DRA) of Houston recently issued a request for qualifications for the acquisition, clearing and development of a 35,579-square-foot site at 1111 Main St. The official RFQ calls for the development of a multifamily project and/or a mid- or high-rise hotel tower with extensive retail components on the lower floors.

The future of Houston’s NRG Astrodome remains unclear, but strides are being made towards the repositioning of the Astrodome as a multi-use park. The Urban Land Institute (ULI) recently released a report that argues for the conversion of the stadium into a multi-use park that would enhance the quality of life for residents and serve as a tourist attraction.

The Building Owners and Managers Association (BOMA) International recently designated the Hess Tower in Houston as a BOMA 360 Performance Building, according to an official CBRE press statement. The designation recognizes the industry’s best practices in building operations and management.

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.

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.

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.

Pittsburgh-based HFF announced that it has recently arranged $50 million in financing for 3040 Post Oak Boulevard, a 427,486-square-foot office building part of the Lakes on Post Oak complex in Uptown Houston.

It’s been a busy new year for Stream Realty Partners, L.P. Just recently, the Dallas-based firm announced the grand opening of their Center at Pearland Parkway in Pearland and the acquisition of 600 Jefferson in the Houston CBD.

Trammell Crow Residential (TCR) and Bluerock Residential Growth REIT have joined forces for the development of a new, 269-unit apartment community in Houston. Dubbed Alexan Blaire House, the luxury community will be developed on a 4.2-acre tract just two miles from the renowned Texas Medical Center.