HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been retained to market for sale the Houston Galleria Office Towers (top left photo), three Class A office buildings totaling nearly 1.1 million square feet.
HFF senior managing director Robert Williamson (top right photo) will lead the marketing efforts on behalf of the seller, which is an affiliated entity of Walton Street Capital, L.L.C. The portfolio is being offered without an asking price free and clear of debt.
The Galleria Office Towers are located at 2700 Post Oak Boulevard, 5051 Westheimer and 5065-5075 Westheimer close to Interstate 610 about five miles west of downtown Houston.
The properties are connected to the Houston Galleria,(lower left photo) a mixed-used development that includes a mall with 2.3 million square feet of upscale retail, two Westin hotels and three office towers.
Tenants at the 90% leased towers include Air Liquide, Southern Union, Merrill Lynch, Citigroup Global Markets, UBS, Banco Santander and BBVA Bancomer.
“This offering represents a unique opportunity to own part of a world-renowned Houston landmark that is one of the largest and most successful mixed-use projects in the country,” said Williamson.
“Development of the Galleria helped define what has become Houston’s largest and most prestigious suburban office submarket.”
“Development of the Galleria helped define what has become Houston’s largest and most prestigious suburban office submarket.”
Walton Street Capital, L.L.C. is a private equity real estate investment firm. Since its founding in 1994, affiliates of Walton Street Capital have received total equity commitments of $5.7 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net worth individuals. Affiliates of Walton Street Capital have invested and/or committed to invest approximately $4.5 billion of equity in approximately 180 separate transactions.
Contacts:
Robert E. Williamson, HFF Senior Managing Director, (713) 852-3500, rwilliamson@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com
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