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Brookfield to Acquire 4M-SF Houston Center
Brookfield Asset Management is under contract to buy the 4.2-million-square-foot Houston Center, a mixed-use office and retail complex in the CBD. Local media sources suggest that the property, owned by a fund managed by J.P. Morgan Asset Management, will be sold for $875 million. The sale is expected to close before the end of 2017.
Houston Center was developed in the 1970s and 1980s. The office space is 75% leased. The 200,000-square-foot retail component is approximately 70% leased. Houston Center consists of:
- The 51-story, 1.2-million-square-foot Fulbright Tower, 1301 McKinney
- The 46-story, 1-million-square-foot Lyondell Basell Tower, 1221 McKinney
- The 40-story, 1-million-square-foot 2 Houston Center, 909 Fannin
- The 12-story, 674,246-square-foot 4 Houston Center, 1221 Lamar
Brookfield, headquartered in Toronto, also owns the Allen Center complex, the DoubleTree Hotel, Total Plaza and Heritage Plaza, all in downtown Houston.
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
