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JV acquires 442,000-SF 3000 Post Oak in HoustonJV acquires 442,000-SF 3000 Post Oak in Houstonhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=20972014-12-23T09:09:00Z2014-12-23T00:00:00Z

HOUSTON - FG Asset Management has closed on 3000 Post Oak, a 19-story office building in the Galleria area leased to engineering and construction firm Bechtel.

The South Korean alternative asset management and financial services firm purchased the 23-acre, 441,523-sf property from Five Mile Capital Partners and Crocker Partners.

The purchase price was not disclosed, but an earlier report pegged it at $175 million or $400 per sf.

The 3000 Post Oak tower has two neighbors in the Lakes on Post Oak development: 3050 Post Oak and 3040 Post Oak. Both of these Post Oak developments sold earlier in 2014.

The combined transactional value of the three Post Oak office buildings is $400 million.

The Chinese oil and gas company Sinopec and New Jersey-based MetLife Real Estate Investors each bought the 3050 Post Oak and 3040 Post Oak towers, respectively.

FG specializes in real estate, private equity and other alternative investment strategies for Korean institutional investors. The company’s headquarters is in Seoul, and it has an office in Manhattan.

Houston Business Journal
Houston-The Woodlands-Sugar Land
Office
http://www.bizjournals.com/houston/morning_call/2014/12/south-korea-firm-snatches-up-prime-galleria-area.htmlRead more at {Source}

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