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