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This Week's Houston Deal Sheet

The Walden Group purchased an 18-property portfolio for $106.7M. Cushman & Wakefield's Tyler Averitt and Craig Hey represented the seller, Varden Capital Properties. 

“This was a very unique situation where two key private capital clients were able to do a mutually favorable cross-market portfolio sale with our Southeast Multifamily group at Cushman & Wakefield,” Hey said. “VCP was able to amass the portfolio by purchasing properties that were more complicated executions than the average buyer would be willing to do.”

Gracie Square 1201 Wilcrest Drive in Houston

The 1,858-unit portfolio includes apartment communities across six Southeast states: 

  • Gracie Square, a 223-unit property at 1201 Wilcrest Drive in Houston.
  • Seven properties across Alabama.
  • Five properties in Pensacola, Florida. 
  • Three properties across Tennessee.
  • One 200-unit property in Pascagoula, Mississippi. 
  • One 203-unit property in Winston-Salem, North Carolina.   

“The portfolio timing also allowed the buyer (The Walden Group) to line up dispositions through Cushman & Wakefield so they acquired many of the assets with tax-free 1031 money, ever compounding the initial investment from their private equity partners,” Averitt said in a release. 


Al Gomez was promoted to vice president of operations in Houston for McCarthy Building Cos. Gomez is responsible for integrating McCarthy’s various departments while leading management and operations on all projects. His responsibilities include coordination of pre-construction strategies, ensuring excellent client service and overseeing safety for the division. 

2627 Chestnut Ridge in Kingwood


Windland Kingwood Investment acquired a 30K SF medical office building at 2627 Chestnut Ridge in Kingwood. The property is 100% leased. McAlpine Interests' Adam McAlpine represented the seller, 2627 Chestnut Ridge LLC. McAlpine Interests will be responsible for leasing and management of the property. Proximity Commercial Advisors' Robin Moore represented the buyer.  


An undisclosed limited liability company purchased West Little York Office Plaza, a 62K SF industrial property at 18703 West Little York Road in Katy. The price was not disclosed. Marcus & Millichap’s Nate Newman and Logan Kelly represented the seller, a local developer. Newman also represented the buyer. 


Sugar Land Energy Properties acquired a building at 12999 Jess Pirtle in Sugar Land. Monitor Medical Inc. signed a long-term lease at the property. The former tenant, Aguirre & Fields L.P., will relocate and expand to 12K SF at 7215 New Territory Blvd. in Museum Square at Telfair in Sugar Land. UTR - Texas Realtors' Bill Havey represented the buyer, Sugar Land Energy Properties. JPR Commercial Real Estate Inc. Jennifer Raymond represented Aguirre & Fields. ICO Texas' Tawnya Dornak represented Museum Square's landlord, AP Brothers Investment Group LLC. 


An undisclosed buyer purchased a 3-acre tract at 5022 Simsbrook Drive in Houston. Retail Solutions' Conrad Chambers represented the buyer. Re/Max Commercial Advisors' Patrick Buckhoff represented the seller.  


An undisclosed buyer has purchased a 2-acre tract at 11401 Ella Blvd. in Houston. Retail Solutions' Mohamed Gamal represented the seller, Gamal Enterprises.

11550 Fuqua St. in Houston


Ham, Langston & Brezina LLP inked a 12K SF office lease at 11550 Fuqua St. in Houston. NAI Partners’ Griff Bandy represented the tenant. 


The Law Office of Bryan Fagan signed a 10K SF renewal and expansion at 3707 FM 1960 West in Houston.  Richard Maloof and the Law Office of Bryan Fagan represented the tenant.


Energy Recovery Inc. signed a lease at the new Commercial Development Center at Energy Park West Business Park in Katy. The 4-acre site will include a 25K SF facility to house advanced equipment in addition to a 2-acre yard for field testing and product development. The facility will also serve as the central office for Energy Recovery’s oil and gas segment. Avison Young's Bob Berry and Jacob Bravo represented the tenant. M Kidd Properties Inc.'s Mark Kidd Sr. and Mark Kidd Jr. represented the landlord, FS Clay LLC. 


Hunton Andrews Kurth renewed a 135K SF office lease at 600 Travis, a 75-story Class-A office building in Downtown Houston. The Texas-based law firm, founded in 1902, has occupied the office tower since the building opened in 1981. CBRE's Charles Gordon and Paul Penland represented the tenant. Colvill Office Properties' Clark Thompson, Diana Bridger and Margaret Elkins represented the building’s ownership, Prime Asset Management. Hines manages the property. 


Total renewed a 306K SF office lease, including a 48K SF expansion, at 1201 Louisiana St. in Downtown Houston. The tenant will retain its naming rights at Total Plaza, a Class-A office tower. It has been the anchor tenant since 2005. Savills Studley's Mark O’Donnell represented the tenant. Brookfield Properties' Clint Bawcom and Jon Dutton represented the landlord in-house. 


An affiliate of Simpkins Group Inc. purchased a 129K SF medical office building in the Heights. Berkadia's Cutt Ableson, Mark Crosswell and Colin Marusak placed the joint venture equity with a Houston-based private equity firm. Houston-based real estate investment firm Weingarten Realty Investors sold the property.

Arcola Mayor Fred Burton speaks at the grand opening of Gristmill at Tuscany Park in Arcola.


Gristmill at Tuscany Park, an affordable apartment community, celebrated its grand opening in Arcola, a city in Fort Bend County. The eight-building community is at 21821 South Post Oak Blvd. The 96-unit features one-, two- and three-bedroom units, 88 of which are designated affordable. On-site amenities include a swimming pool with sun deck, a 24-hour fitness center, a business center, a community lounge and an outdoor playground. The NRP Group developed the property, and it is the first community to open in Fort Bend since Hurricane Harvey.


Strato 550, a restaurant and conference center, will open on the 43rd floor at 1415 Louisiana. Designed as a weekday destination, the restaurant offers Mediterranean-inspired cuisine and will be open for lunch Monday through Friday. It will also host private events and a cocktail hour menu for the after-work crowd. 


River Oaks Equity Partners founder and Managing Partner Clinton Roberts will serve as chairman of the board of directors of the United States Apartment Equity Exchange Inc., scheduled to launch in early 2019. USAEX is a highly specialized marketplace for multifamily properties. The platform will facilitate an exchange of information relating to multifamily offerings between real estate investors and brokerage professionals.