Houston complex sells for $550m
J.P. Morgan has acquired a stake in River Oaks District, a mixed-use complex in Houston, for $550 million. The seller was an entity including Boston-based hedge fund Baupost Group and OliverMcMillan, which developed the asset
River Oaks District, located inside Loop 610 in Houston, opened in 2015. Spread across 14 acres, the development has approximately 252,000 square feet of retail, restaurant and entertainment space; 92,000 square feet of office space; and 279 apartments. Tenants include Akris, American Food and Beverage, Anne Fontaine, BONOBOS, Brioni, Brunello Cucinelli, Canali, Chopard, De Bouelle Diamond & Jewelry, Diptyque, Dolce & Gabbana, Etro, Giuseppe Zanotti, INTERMIX, John Lobb’s, Kiton, Le Colonial, L’Occitane’s, Moncler, Roberto Cavalli, Taverna, Thirteen Pies, and Toulouse Café and Bar.
Houston’s retail market continues to expand even while the local economy is wavering due to lower oil prices, according