Fuller Realty Partners Buys Houston Office Tower
- Jan 14, 2020
Fuller Realty Partners—in partnership with Independencia Asset Management—has acquired The River Oaks Bank Building in Houston. A client advised by L&B Realty Advisors sold the 170,233-square-foot office property after almost a decade of ownership, Yardi Matrix data shows.
Global Atlantic Financial Group originated a $42 million acquisition financing for the joint venture. Last September, L&B Realty sold a 300,000-square-foot office property in Plano, Texas.
Located at 2001 Kirby Drive in the River Oaks District within Houston’s Inner Loop, the property is less than 5 miles from the metro’s downtown and close to several dining and retail establishments. Completed in 1967, the 14-story tower underwent renovations in 2017 and features 185 surface parking spaces, as well as a two-story, 323-space attached parking garage. According to Yardi Matrix data, the tenant roster includes Sentinel, Nine Energy Service and several law practices.
Senior Director Kevin McConn, Managing Director Rudy Hubbard and Director Rick Goings from JLL represented the seller and procured the buyer. Additionally, Senior Director John Ream, Senior Managing Director Wally Reid and Managing Director Cameron Cureton from the brokerage company arranged the financing.