HALLANDALE BEACH, Fla.--(BUSINESS WIRE)--Hallandale Beach based Beacon Investment Properties has closed on the acquisition of One City Centre, a 609,000 square feet Class "A" office building located at 1021 Main Street, in the heart of Houston's CBD. This property, purchased from Behringer Harvard, was completed by Beacon in a joint venture with Menorah Mivtachim and Psagot, two Israeli leading financial institutions.
"The acquisition of One City Centre represents an attractive opportunity and reflects BIP's strategic decision to expand our existing presence in the major markets in Texas," said Claudio Dombey, managing partner of Beacon Investment Properties. "We continue to partner with both international institutions and high net-worth investors in acquiring stable, income producing assets," he further commented. This purchase continues to demonstrate Beacon's long-term commitment to the Texas office market.
One City Centre
Located at Main Street Corridor, connected to the CBD tunnel system and adjacent to the light rail station, One City Centre is a prestigious address with significant convenience. The 31-floor extensively renovated office building, recently achieved LEED Gold Certification. Currently 84% occupied, One City Centre is anchored by Waste Management and Energy XXI.
This acquisition represents the firm's second acquisition in Houston in the past 30 days. Last month, Beacon Investment Properties purchased Ashford 5, 6, & 7, a 560,000 square feet office portfolio located in Houston's Energy Corridor.
About Beacon Investment Properties
Beacon Investment Properties, LLC is a private real estate investment and management operator with a portfolio totaling over 6 million square feet and valued at $1 billion dollars. Headquartered in Hallandale Beach, Florida, and with offices in Dallas, Houston and Charlotte, the firm specializes in the acquisition and management of commercial properties located in the submarkets of large MSA in the Southeast and Midwest of the US. For additional Information please visit: www.beaconri.com
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