5/1/2008

Shorenstein buys Houston's 5 Post Oak Park

by Michael Wayne
A joint venture between GE Asset Management Incorporated and Crescent Real Estate Equities has sold 5 Post Oak Park in Houston, Texas, for an undisclosed price to Shorenstein Properties, LLC.

The Houston office of Holliday Fenoglio Fowler brokered the deal.

The 28-story building is located at 4400 Post Oak Parkway and contains 567,396 square feet. It is situated on 3.6 acres and was 93 percent leased at the time of sale to three tenants: Amegy Bank, UBS and Willbros USA Accounting. Built in 1982, the property includes a 1,673-stall parking structure.

Shorenstein purchased 5 Post Oak Park on behalf of its ninth investment fund, Shorenstein Realty Investors Nine, L.P., a $2.062 billion private fund formed in Spring 2007.

Address: 4400 Post Oak Parkway, Houston, Texas

Size: 567,396 square feet

Built: 1982

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Filed Under: Office

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