HFF closes sale of Two Riverway in Houston

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it closed the sale of Two Riverway, (top right photo) a 17-story, Class A office building in Houston’s Galleria submarket.

HFF senior managing director H. Dan Miller(top left photo), managing director Robert Williamson, (middle right photo) associate director Marty Hogan (bottom left photo) and real estate analyst Trent Agnew led the investment sales team on behalf of the seller, Coventry Fund X, Ltd.

Two Riverway Holdings LLC, a subsidiary of Donerail Corporation, purchased the property for an undisclosed amount.

Two Riverway is situated within the 27-acre Riverway master-planned development at the southeast corner of Post Oak and Woodway Drive west of Interstate Loop 610 in Houston. The 92% leased property contains 369,479 square feet of which 55% is occupied by Chicago Bridge & Iron and IBM.

“Two Riverway’s location within the Galleria submarket provides strong barriers to entry due to the scarcity and high cost of available sites coupled with the current capital market environment,” said Miller. “Since 1999, only two Class A buildings have been built in the Galleria submarket and both are owner occupied.”
“The purchase of Two Riverway is testament to Houston’s desirability from the global investment community,” added Hogan.

Coventry Realty Advisors, Inc. is a real estate investment management/private fund and has acquired and developed over $2.5 billion of office, retail and mixed-use properties since its inception in 1982.

CONTACTS:

H. Dan Miller, HFF Senior Managing Director, 713 852 3500, dmiller@hfflp.com

Martin T. Hogan, HFF Associate Director, 713 852 3500, mhogan@hflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com