MIAMI--(BUSINESS WIRE)--Parmenter Realty Partners announced today the sale of 2200 West Loop South in Houston, Texas. The Class A, 201,720 square foot office building is the first asset from Parmenter Realty Fund IV to be sold.
“We continue to be well invested in the Houston market, but given the current profile of the asset and market dynamics, we felt this was the proper time to sell”
“We continue to be well invested in the Houston market, but given the current profile of the asset and market dynamics, we felt this was the proper time to sell,” said Steve Bronner, Managing Principal Southwest Region for Parmenter Realty Partners. ”Our leasing program achieved rents above pro-forma and we stabilized the asset much more quickly than initially projected.”
The building was purchased in January 2012. The firm currently owns two other assets in Houston: Westchase Park Plaza and Brookhollow Central at which dramatic repositioning programs have been executed and active leasing is under way.
Parmenter Realty Partners is a real estate investment, management and development company, headquartered in Miami, Florida, with regional offices in Dallas, Atlanta and Washington, D.C. Parmenter operates a series of institutional investment funds focused on the southern and mid-Atlantic regions of the U.S.
For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.