Friday, May 16, 2008

Broadway Partners Fund Manager LLC has a contract to sell the downtown office building for $127 million

Fifteen months after acquiring One City Centre for $115 million, Broadway Partners Fund Manager LLC has a contract to sell the downtown office building for $127 million.
Dallas-based Behringer Harvard is buying the 47-year-old property originally built as the headquarters for First City National Bank.
The February 2007 acquisition was the first Houston investment for Broadway, a New York-based private real estate investment and management firm.
In flipping the 31-story office building at 1021 Main St., Broadway is exiting the market after a brief but lucrative stay. For ,ore information see: www.houstonrealtyadvisors.com or www.houstonrealtyadvisors.net