Monday, November 26, 2012

W.P. Carey Takes KBR Tower in Houston For $174.6M

National Commercial Real Estate News From CoStar Group

W.P. Carey Takes KBR Tower in Houston For $174.6M

A affiliate of W. P. Carey Inc. has acquired the 40-story KBR Tower office building in Houston's CBD.

CPA®:17 - Global, a non-traded REIT affiliate of publicly traded W.P. Carey (NYSE: WPC), purchased the 1,047,748-square-foot building at 601 Jefferson St. for $174.6 million from an affiliate of Brookfield Office Properties Inc. (NYSE: BPO).

Kellogg Brown & Root, Inc. (KBR), occupies about 900,000 square feet under a net lease with a remaining...

Live From REITWorld: Pace of Mergers and IPOs Likely to Accelerate in 2013

For all the election season bickering over the pace of the economic recovery during the last four years, this year’s gathering of REIT executives was a decidedly happier and more agreeable place than in 2008 when the REIT industry trade show last met in San Diego.

Back then, attendees were agonizing over whether real estate investment trusts could even survive, let alone thrive, amid the frozen credit flows, plunging stock prices and near collapse...

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