Hines Global Income Trust acquired Motrose Collective, a 189,000-square-foot high-rise in Houston. Radom Capital was the seller. Radom developed the property along with JP Morgan. The project broke ground in February 2020, was delivered in 2022, and is 100% leased.
Since Hines is a public company, the Securities and Exchange Commission requires reporting key transactions. The $137.6 million price works out to roughly $727 per square foot, which is reported in published accounts as a Houston record.
Located at 888 Westheimer Road, Montrose Collective offers roughly 100,000 square feet of office space, 50,000 square feet of retail space and 10,000 square feet of library space across a handful of buildings. The project broke ground in February 2020.
Just yesterday, ConnectCRE reported that Radom broke ground on its first ground-up multifamily development, Clock Tower Residences. This will be the residential component of Radom Capital’s Heights Clock Tower adaptive reuse development.
What’s next for multifamily development and expansion in Texas? Hear from major developers—including leadership from Ryan Companies, Lument, GSP, Zonda, Daniel Management Group, CSSI, PGIM, Transwestern, Regions Bank, and many more —as they share what’s driving the pipeline, strategies, overcoming delays, and setting the pace for what’s ahead at Connect Texas Multifamily. www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28th | VENUE: The Joule, Dallas
The post Hines Picks Up Houston Offices for $137.6M appeared first on Connect CRE.
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