HOUSTON, Texas -- Houston billionaire Tilman Fertitta has added one of Houston's most prominent mixed-use developments to his real estate portfolio by purchasing River Oaks District.
The almost 14-acre property, which is located on Westheimer just east of 610, is home to luxury retail boutiques, upscale restaurants, high-end apartments, and office space. In total, it offers more than 300,000 square feet of retail space, over 67,000 square feet of office space, and 279 apartment units.
[Ads /]
Terms of the deal were not disclosed in press materials, but the Houston Chronicle reports that the Rockets owner paid $450 million for the property. JPMorgan Asset Management purchased the property for $550 million in 2016, the paper notes.
Continue reading this article from our ABC13 partners at Houston CultureMap.
[Ads /]
SEE ALSO: Houston Rockets owner Tilman Fertitta acquires prime, pivotal space near Memorial Park