Skanska Sells Bank of America Tower Majority Stake for $373M

Skanska entered into an agreement to divest 90% of its interest in the Bank of America Tower in downtown Houston. The Swedish investor sold its interest to Beacon Capital Partners for $373 million, with closing anticipated by the end of December 2019.

The 780,000-square-foot building, completed in summer 2019, is at 800 Capital St. It is approximately 90% leased, with tenants including Bank of America, Winston & Strawn, Waste Management, Quantum Energy Partners and Skanska. Skanska launched construction on the 35-story tower in 2017, after Bank of America signed a 210,000-square-foot lease.

The LEED Platinum-certified building has an open-air community hub that includes a full-service restaurant and culinary market. Tenants also have access to a conference and private events center featuring three meeting venues.

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