Commercial Investment Real Estate May/June 2017 - Page 42

REGIONAL OUTLOOK { SOUTHWEST } The $512 million sale of the Parkway REIT’s 49 percent stake in its Greenway offi ce port- folio to three institutional investors may signal the resurgence of Houston’s offi ce market. The institutional investors are affi liates of TH Real Estate, Silverpeak Real Estate Part- ners, and Canada Pension Plan Investment Board. This deal is the one of largest invest- ments made in Houston, which has not had much interest from institutional buyers lately, according to the Realty News Report. The sale is for 49 percent of a 5 msf, 11-building offi ce campus in Houston’s Inner Loop. Houston’s Big Deal { N ATION A L } Top 5 Multifamily Markets with the Highest 2017 Expected Completions New York City Top 5 Multifamily Markets with the Highest Expected 2017 Absorption 30,000 units 30,000 Dallas/Fort Worth 28,000 units 25,000 Dallas/Fort Worth 20,000 units 20,000 New York City Houston 16,000 units Washington, D.C. 15,000 units 15,000 19,000 units Houston 16,000 units Los Angeles 15,000 units Seattle-Tacoma, Wash. Atlanta 12,000 units 13,000 units 10,000 Source: Marcus & Millichap 40 May | June 2017 COMMERCIAL INVESTMENT REAL ESTATE