Hines, an international real estate firm, and privately held EPCO Inc., jointly announced that an affiliate of EPCO has purchased the 1100 Louisiana complex in downtown Houston.
The value of the transaction was not disclosed.
Designed by Skidmore, Owings & Merrill, 1100 Louisiana is a 1.3 million-square-foot, 55-story office tower that includes 36,000 square feet of retail space and an adjacent 2,233-space parking garage. EPCO will begin to move its corporate headquarters to 1100 Louisiana from its current location in northwest Houston during the first half of 2006.
National Office Partners Limited Partnership, a joint venture between the California Public Employees’ Retirement System (CalPERS) and Hines, sold the property.
Hines developed 1100 Louisiana in 1980 and sold the building to Capital Guidance Associates IV in 1985. In 1999, National Office Partners purchased the building. Hines has continually managed and leased the building for 25 years and will continue in this capacity.
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