Billionaire Fertitta Buys $450 Million Mall From JPMorgan

Tilman Fertitta bought a luxury open-air mall from JPMorgan Chase & Co. in Houston’s wealthiest neighborhood, expanding his real estate holdings in his home city.

Fertitta, owner of Golden Nugget casinos and the National Basketball Association’s Houston Rockets, bought the River Oaks District for $450 million, said a person familiar with the matter. The development has more than 300,000 square feet (27,800 square meters) of luxury retail including brands such as Hermes and Cartier, plus over 67,000 square feet of office space and 279 apartment units.