June 28, 2018
A joint venture consisting of Cameron Management and Silverpeak Real Estate Partners ended its decade-long hold on the 23-story, 375,440-square-foot 1001 McKinney in Houston’s central business district. Buying the office asset for an undisclosed amount was another joint venture, TRC Capital Partners LLC and Amstar America LLC. The property is appraised at $55.5 million.
HFF’s H. Dan Miller, Marty Hogan and Johnny Kight represented the seller and secured the buyer for the recently-renovated building. 1001 McKinney opened in 1947, and is a historic landmark on the National Register of Historic Places. The LEED Gold and Energy Star-rated building recently underwent renovations, and was 76% occupied at closing.
“We strongly believe in the Houston CBD, and have been looking for several years at historic buildings that offer compelling value for both tenants and our investors,” said TRC Capital’s Steve Lerner.
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