Miami investor Galium Capital enters Houston with apartment purchase
Miami-based Galium Capital entered the Houston market with the purchase of the Fairmont on San Felipe apartments at 6363 San Felipe at Winrock in the Galleria area. Jordon Emmott, Abraham Garza III and Shayan Hasnain of Greystone National Apartment Advisors represented the sellers, Hunington Properties and Longreach Associates. Built in 2009, the complex contains 361 units across 330,658 square-feet, plus an additional 41,402 square feet of retail. Galium owns and manages more than $350 million of multifamily, office and retail properties in major markets across the U.S. Matthew Wallach from Walker & Dunlop arranged the financing. The Fairmont on San Felipe is 94 percent occupied with an average rent of $1.61 per square foot. The property will be operated by Greystar.
Austin-based CapRidge Partners inked leases with office tenants totaling 80,000 square feet at its Memorial Tower One and Two and Woodway Tower campus near the Memorial Villages and Tanglewood. Stream Realty Partners arranged 37 leases over the last 12 months with tenants including Greenwood King Properties, Doliver Advisors, Southern BancShares, Weinstein Tippetts & Little and Blue Sprig Pediatrics. The deals, which include 32,000 square feet of leases executed during the pandemic, come as the first phase of a multimillion-dollar renovation of all three buildings is wrap-ping up. Improvements include reconfigured and upgraded lobbies, new tenant lounges, training facilities and upgraded common areas, restrooms and elevator cabs. Exterior improvements including parklike green space with an activity lawn, shaded seating area and outdoor meeting space are slated for completion by the fourth quarter. Craig McKenna, Matthew Asvestas and Elliot Collie of Stream oversee leasing of the buildings at 1616 S. Voss, 7500 San Felipe and 6363Woodway.
CORE Park Row Place awarded the property management of Park Row Place, 17900 Park Row, to Central Management Inc. Paul Panus will serve as property manager.
Gary Triplett of CMI Brokerage negotiated the following leases on behalf of the owner of Glenroyal Warehouse Park, an industrial park at Glenmont and Royalton in southwest Houston: Shanon O'Brien leased 5,250 square feet at 5303 Glenmont; Nichols Next Generation Remodeling renewed its 2,275-square-foot lease; Wilsa Inc. leased 2,335 square feet at Glenmont's Suite D; Rainbow Contractors expanded its space to 2,800 square feet; B.L . Brannan renewed its lease of 2,000 square feet at 5750 Royalton; and Designer Concepts leased 4,000 square feet on Royalton.
A private investor purchased the 102,000-square foot Conroe Business Park at 1300 South Frazier St. in Conroe. Michael Lea of Marcus & Millichap brokered the sale.