Mark Gabbay And Brad Gries Of LaSalle Investment Management Acquire 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 asset involved in the transaction is located at 2101-2107 Citywest Boulevard in Houston, TX. This office space encompasses an area of 1,500,000 square feet on a 39.0-acre site. The property is currently 98% leased and has witnessed significant leasing activity with about 460,000 square feet leased since 2023.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 2101-2107 Citywest Boulevard
- Market: Houston, TX
- Asset Size: 1,500,000 SF
- Land Area: 39.0 acres
- Buyer: Mark Gabbay & Brad Gries - LaSalle Investment Management; Robert Sarver - 3Edgewood
The deal was executed through a joint venture, in which LaSalle Investment Management acquired an equity stake in the CityWest property. The transaction reflects strong demand for high-quality office space in West Houston, indicating a robust market perspective.
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