Deals
Houston’s Williams Tower Sold by Hines for $412 Million
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An Invesco Ltd. unit purchased Williams Tower in Houston for $412 million as office sales increase in the city amid a boom in U.S. oil production.
Invesco Advisers Inc. bought the 64-story building and an adjacent parking garage in Houston’s Galleria/West Loop area, the seller, Hines Real Estate Investment Trust Inc., said today in a regulatory filing. The Houston-based REIT purchased the 1.4 million-square-foot (130,000-square-meter) tower in 2008 for $271.5 million, and its net proceeds on the March 1 sale were $228.4 million after transaction costs, Hines said.