HFF closes sale of west Houston office building

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of 10411 Westheimer, (top left photo) a 30,000-square-foot office building in Houston, Texas.

HFF senior managing director Dan Miller (bottom right photo) and analyst Trent Agnew led the investment sales team on behalf of the seller, Brookfield Real Estate Opportunity Fund, which is sponsored by Brookfield Asset Management.

Pacific Sun Investments, LP, a Houston-based company led by Amir Taghdisi (middle left  photo)  and Alan Taghdisi, purchased the property for an undisclosed amount free and clear of debt.

10411 Westheimer is situated on 3.7 acres in the Westchase District of west Houston, convenient to and visible from Beltway 8. The property is fully occupied with JPMorgan Chase leasing 50% of the building under a long-term lease.

“The combination of JPMorgan Chase credit, a Westheimer address with Beltway frontage, and redevelopment potential made this a highly sought after property for private buyers, generating approximately 20 offers,” said Miller.

Brookfield Real Estate Opportunity Fund invests in underperforming and distressed real estate in the US and Canada, and has acquired nearly $2 billion worth of assets since 2004.

Brookfield Asset Management Inc. is a global asset manager focused on property, renewable power and infrastructure assets with over $80 billion of assets under management.

The company’s shares are listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively, and on Euronext under the symbol BAMA. For more information, please visit Brookfield’s website at www.brookfield.com.

Contacts:
H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, (713) 852-3500, dmiller@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com