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.
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