Opening Houston Office to Expand Energy PracticeHOUSTON, TX
- Dallas-based Carlson Capital, LP
, a multi-strategy alternative asset management firm, has leased 8,774 sq ft comprising the entire 50th floor in Bank of America Center, located at 700 Louisiana Street in downtown Houston's theater district. Carlson Capital is establishing a Houston office to expand its energy practice under the leadership of new CEO Ron Hulme.
Bank of America Center is a 56-floor office tower encompassing 1.25 million square feet, and is owned by a joint venture of M-M Properties and an affiliate of the General Electric Pension Trust, advised by GE Asset Management. GE Asset Management, a global asset manager, is the real estate advisor to the GE Pension Trust.
"Carlson Capital is a perfect fit for Bank of America Center and its 50th floor. The smaller floors near the top of the building provide tenants such as Carlson Capital the distinction and prestige of a full-floor presence," said Bill McFarland, vice president with M-M Properties.
The building was designed by award winning architect Phillip Johnson and partner John Burgee, is located in the heart of Houston's Theater District and is within short walking distance to attractions such as Jones Hall, Bayou Place, the Hobby Center for the Performing Arts, Wortham Center and the Alley Theatre. Carlson Capital will be among other prestigious tenants to occupy the building such as Bank of America, KPMG, Mayer Brown LLP, Weil Gotshal, and Simmons & Company International. Designed with stone-clad exterior and dual-pane glass, Bank of America Center perennially earns the EPA's ENERGY STAR, the nationally recognized mark of excellence in energy performance.
John Spafford of PMRG represented the building owner in the transaction. Craig Wilson and Randy Cooper with Cushman Wakefield in Dallas and Angus Hughes and Philip Price in Houston represented Carlson Capital.
About M-M Properties
M-M Properties is a privately held real estate investment firm that seeks to provide exceptional risk-adjusted returns to its investors through superior execution of carefully developed strategies. M-M Properties' senior management have worked together for tenures ranging from 7 to 17 years through several firms; and have deep experience throughout real estate market cycles and multiple project phases including acquisition, disposition, recapitalization, development, and investment management across a broad range of property types and within all major U.S. markets. The company or its principals have engaged in real estate investment activities on behalf of investors, partners or for its own account across a portfolio of assets that has included over 29 million square feet of office projects and almost 17,000 multifamily units with a cumulative transaction volume of approximately .5 billion.
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com