Fertitta Buys River Oaks District

Houston billionaire Tilman Fertitta has added one of Houston’s most prominent mixed-use developments to his real estate portfolio by purchasing River Oaks District. The Houston Chronicle reports that the Rockets owner paid $450 million for the property. JPMorgan Asset Management purchased the property for $550 million in 2016, the paper notes. JLL represented the seller and procured the buyer.

The almost 14-acre property, which is located on Westheimer just east of 610, is home to luxury retail boutiques, upscale restaurants, high-end apartments, and office space. In total, it offers more than 300,000-square-feet of retail, over 67,000-square-feet of office space, and 279 apartment units.

Since it opened in 2015, River Oaks District has become one of Houston’s top shopping destinations including Hermes, Rolex, Dior and Harry Winston. Its popular restaurants include Steak 48, MAD and Loch Bar.

River Oaks District is about a mile from The Post Oak, Fertitta’s hotel, restaurant, and office complex on the West Loop. It’s the only hotel in Houston to earn a 5-star rating from the Forbes Travel Guide. 

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