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Florida REIT selling half its stake in Greenway Plaza, Phoenix TowerFlorida REIT selling half its stake in Greenway Plaza, Phoenix Towerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=158832017-02-21T06:00:00Z2017-02-21T17:00:00Z

​HOUSTON – Florida-based REIT Parkway Inc. is selling 49 percent of its interest in Greenway Plaza and nearby Phoenix Tower for $512.1 million.

The deal, which will close in the second quarter​, puts the value of the roughly five million-sf portfolio​​ at about $210 per sf.

Under the terms of the deal, Parkway will form a joint venture with affiliates of TH Real Estate, Silverpeak Real Estate Partners, and Canada Pension Plan Investment Board.

Parkway will retain a 51 percent interest, will serve as general partner, and will provide property management and leasing services for the joint venture.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
http://www.bizjournals.com/houston/news/2017/02/21/spinoff-reit-to-sell-half-its-stake-in-greenway.html?ana=e_me_set1&s=newsletter&ed=2017-02-21&u=d%2BcgbSMix7HPQ0yNC07u%2Bw085373f3&t=1487692847&j=77448781Read more at {Source}

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