Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CPPIB JV invests in Houston office portfolio

by Andrea Waitrovich

Parkway Inc. has agreed to sell 49 percent of two class A office properties in Houston for $512.1 million. Parkway will retain a 51 percent majority interest in the portfolio, with TH Real Estate and Silverpeak Real Estate Partners sharing a 24.5 percent interest, and the Canada Pension Plan Investment Board owning the remaining 24.5 percent. The two properties, Greenway Plaza and Phoenix Tower, will now be owned by a joint venture between Parkway, TH Real Estate, Silverpeak and CPPIB. Greenway Plaza is a 52-acre, master-planned, mixed-use development featuring 11 buildings totaling approximately 4.9 million square feet of office space as its focal point. Onsite amenities include a full-service restaurant, an underground food court with 16 restaurants, multiple fitness facilities, three full-service banking centers and conference facilities. Phoenix Tower is located adjacent to Greenway Plaza. The 34-story building totals 665,332 square feet and was built in 198

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?