An affiliate of Thomas Properties Group, TPG/CalSTRS, LLC, announced the sale this week of 2500 CityWest Boulevard in Houston, Texas for an undisclosed price to a private party. The 578,284 square foot office tower, designed by Sikes, Jennings & Kelly, was sold along with two adjacent unused land parcels totaling 6.3 acres.
"The closing of this transaction represents another significant step in executing our strategic plan, which includes pruning our portfolio of certain joint venture investments that have been repositioned and stabilized, and reducing our land holdings," said Jim Thomas, Chairman and CEO of Thomas Properties Group. "2500 CityWest is a property that we have successfully repositioned and stabilized. We are pursuing a number of attractive opportunities for the investment of these sales proceeds. We remain committed to Houston as a long-term strategic investment market based on its compelling economic and job growth drivers."
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment