posted on December 16, 2010 22:27
Hicks Ventures has acquired four office buildings in the Clear Lake area from a special servicer, its first office purchase in the region.
The two-story buildings, which are 70 percent occupied, have a total of 85,000 square feet at the corner of El Camino Real and Gemini.
The properties were purchased for an undisclosed amount from LNR, a special servicer based in Miami. LNR was represented in the sale by John Dailey with PM Realty Group LP.
The deal represents the first office building acquisition by local real estate firm Hicks Ventures, whose partners include Patrick Hicks and Clifford Rudolph.
12/16/10, Houston Business Journal