HOUSTON – Cerberus Capital and Hines have acquired the JP Morgan Chase Tower at 600 Travis St. for $627 million.
The 1.7 million-sf tower is the tallest building in Texas.
The deal also includes the adjacent 407,000-sf Chase Center, at 601 Travis St.
New York-based Cerberus will own 90 percent of the properties, while Hines will take a 10 percent share.
The seller was Hairiri Interests, operating as Prime Asset Management.
Hines has been managing both properties. Colvill Office Properties is handling leasing.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.