Hines sells 64-story Williams Tower for $412MHines sells 64-story Williams Tower for $412Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=80222013-03-06T07:27:00Z2013-03-06T07:30:00Z

HOUSTON - Hines Real Estate Investment Trust (REIT) has sold the 64-story Williams Tower in the Houston Galleria area to a fund managed by Invesco Real Estate. The net contract sale price for Williams Tower is expected to be approximately $412.0 million, according to the SEC.

The 1.4 million-sf Williams Tower serves as the corporate headquarters of Hines. The tower is more than 95 percent leased to tenants including: Williams, Hines, Rowan Companies, Quanta Services and Cadence Bancorp.

Hines REIT originally acquired its interest in Williams Tower in May 2008 for $271.5 million.

Developed by Hines in 1983, the tower was the tallest skyscraper in the world outside of a CBD when it was built and it still reigns as one of the tallest “non-downtown” buildings.

Realty News Report
Houston-The Woodlands-Sugar Land
http://realtynewsreport.com/2013/03/05/hines-reit-sells-64-story-williams-tower/Read more at {Source}

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