AmREIT Deal is Done: Edens' Plans for Houston

Edens Investment Trust’s acquisition of AmREIT is now complete, and we can expect the firm to aggressively grow in Houston, CEO Terry Brown tells us. That’ll be primarily accomplished through acquisitions (mostly in urban/high-density areas) with a heavy focus on redeveloping centers. That’s a perfect fit for Uptown Park, where AmREIT had announced a major undertaking to increase density and add hotel and multifamily uses. But Edens won’t be picking up right where AmREIT left off, Terry tells us—his team is very early on in the process of replanning what that site will look like and what its timeline will be.

Uptown Park is one of the most unique pieces of real estate in Edens’ portfolio, Terry says, and one of the most dynamic sites in Houston. Its redevelopment will be a deliberate, long-term project, and the team will focus on something that makes the community better. (Edens prides itself on its community involvement.) But while that property will change, the faces you’re used to working with and the corporate culture will remain mostly the same—three of the five AmREIT senior execs joined Edens, and Chad Braun will run the company’s Texas operations.

Continue reading this story with a free account

Log in or register
Related Topics: AmREIT , Edens , Terry Brown , Uptown Park
Sign up for more articles like this
Subscribe to Bisnow's Houston Newsletters
Related Stories

3 Houston Office Properties, Vacant To Nearly Full, Change Hands

How U.S. Giant Realty Income Bought The UK And Europe

Spirit Christmas Unveils Plans To Grow Store Count This Holiday Season

How Houston's Next Generation Of Retail Can Elevate The Suburbs And Attract Customers

Deutsche Bank Files $260M Foreclosure Suit For Broward County Mall

Success Of Top-Tier Malls Masks Enduring Distress In Sector's Underbelly

Holographic Zoo Leases 51K SF Coconut Grove Building For First Location

Hines Spends $170.5M On Mixed-Use Portfolio In Dallas' Bishop Arts District

Local Investor Pays $30M For Block 37 In Heart Of Downtown Chicago

M Core Extends Its Retail Shopping Spree

Oprah-Backed Health Food Chain Files For Bankruptcy, Seeks To Exit Leases

Federal Realty Spends $508M On Alabama Power Center