Skanska has sold a 90 percent interest in the Bank of America Tower office property in Houston, Texas, for $373 million to an affiliate of Beacon Capital Partners. The transaction will be recorded by Skanska USA Commercial Development in the fourth quarter 2019. The transfer of ownership of the property is also expected to occur in the fourth quarter 2019.
Bank of America Tower offers 72,500 square meters (780,000 square feet) of contemporary office space in Houston's central business district, tenants include Bank of America, Waste Management, Winston and Strawn, Quantum Energy Partners and Skanska. The property features an open-air community hub that includes a full-service restaurant and a culinary market with seven chef-driven concepts and a cocktail bar. Tenants also have access to The Assembly, a state-of-the-art conference and private events center that features three meeting venues. The building will use 25 percent less energy than typical facilities and is cer
