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February 19, 2020  

DWS Buys Class-A Houston Offices

DWS Group has paid a J.P. Morgan Asset Management partnership about $115 million for a stabilized office building in Houston.The 250,000-square-foot property, called Kirby Grove, is at 2925 Richmond Avenue, in the Upper Kirby district. At the sale price of about $460/sf, market pros estimate an initial annual yield of roughly 5.75% for the buyer, the asset-management unit of Deutsche Bank. Cushman & Wakefield brokered the sale, which closed last...

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