JV Acquires Interest in Hewlett Packard’s New Global HQ in Houston

A joint venture between the US Office Development Program, a real estate fund co-managed by Patrinely Group and USAA Real Estate and CDC Houston has announced a transfer of membership interests in the new Hewlett Packard Enterprise (HPE) global headquarters in north Houston’s City Place.

The LEED Silver-certified HPE campus, located at 1701 East Mossy Oaks Road, consists of two, five-story buildings. Slated to open later this month, the project is leased to HPE on a long-term lease and encompasses approximately 440,000 rentable square feet as well as indoor and outdoor amenities, including a fully-landscaped roof terrace overlooking a large central courtyard.

“Reaching this campus milestone is a testament to the strength and capabilities of our partnership with Patrinely Group and USAA Real Estate, which has proven itself time and again in its abilities to thoughtfully and efficiently deliver large scale, premium projects in a location that has become one of Houston’s top corporate campus hubs,” said Robert Asselbergs, president at Coventry Development Corp. “We are excited about this purchase, which not only buoys the JV, but also reinforces our long-term commitment to the increasingly vibrant City Place.”