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| February 27, 2007 |
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| BROADWAY PARTNERS ACQUIRES ONE CITY CENTRE IN HOUSTON |
| 590,700-SF CLASS A OFFICE BUILDING IN HEART OF CITY’S BUSINESS DISTRICT |
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NEW YORK, NY, FEBRUARY 27, 2007 – Broadway Partners (“Broadway”), a national private real estate investment and management firm headquartered in New York, announced today that it has acquired One City Centre in Houston, Texas, a 590,700-square-foot office building at 1021 Main Street in Houston’s central business district.
“This is a well-located asset in a thriving market – it presents considerable strategic opportunity for us and our investors,” said James Hennessy, Director of Acquisitions for Broadway.
With over 64,000 square feet available for lease, One City Centre occupies a full city block in the geographic center of Houston’s business district. The building, which includes two parking garages and is located near major public transportation hubs, underwent an extensive renovation in 2000 and counts among its current tenants Waste Management, EDS, and Plains Exploration & Production.
The purchase of One City Centre comes on the heels of Broadway’s recent acquisition of a 10-building national portfolio from Beacon Capital Partners that included buildings in Boston, Los Angeles, Washington, D.C. and Denver. Other recent purchases by Broadway have included 340 Madison Avenue and 522 Fifth Avenue in New York City, The Rookery in Chicago and Ten/10 Post Office Square in Boston.
About Broadway Partners
Broadway Partners is a private national real estate investment and management firm headquartered in New York City with regional offices in Los Angeles and Chicago. Its partners represent a cross section of domestic and international private and institutional investors. The firm invests in high quality office properties in select markets nationwide. Since 2000, Broadway Partners has purchased or contracted to purchase office properties with a value in excess of $10 billion.
For more information, contact Charles Millard, Managing Director, Broadway Partners, 212-810-4023, cmillard@bwaypartners.com, or Josh Epstein, Senior Vice President, Linden Alschuler & Kaplan Public Relations, 212-575-4545, jepstein@lakpr.com. |
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