LaSalle Investment Management And 3Edgewood Acquire 1.5 Million Square Foot Office Campus In Houston
2101 Citywest Boulevard & 2107 Citywest Boulevard
Building Size
1,500,000 SF
Asset Type
Office
Closing
Aug 27, 2026
About this deal
AI
The property involved in this transaction is an office asset located at 2101-2107 Citywest Boulevard in Houston, TX. The asset comprises 1,500,000 square feet and spans across 39 acres. It is currently 98% leased and has completed approximately 460,000 square feet of leasing since 2023, indicating strong demand for high-quality office space in the West Houston market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 2101-2107 Citywest Boulevard
- Market: Houston, TX
- Total Square Footage: 1,500,000 SF
- Total Acres: 39
- Buyer: Mark Gabbay & Brad Gries - LaSalle Investment Management
- Co-Buyer: Robert Sarver - 3Edgewood
This transaction involved LaSalle Investment Management acquiring an equity stake in CityWest through a joint venture with 3Edgewood. The key individuals in the transaction include Mark Gabbay and Brad Gries representing LaSalle Investment Management, alongside Robert Sarver representing 3Edgewood.
On the Map
Office
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Players
Houston Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93