Hartman Income REIT has acquired Ashford on the Bayou, a 126,811-square-foot office building in Houston.
Ashford on the Bayou is strategically located between two of Houston’s prestigious submarkets, the Energy Corridor and Westchase, which are home to some of the most influential and important energy-related companies in the world, including Conoco, Shell Oil, BP America, Citgo and more. The five-story property is situated on a heavily wooded 2.5-acre site at 1001 S. Dairy Ashford just south of Memorial Drive and Interstate 10 along Houston’s Buffalo Bayou. Currently 55 percent leased, the newly renovated asset offers 26,000-square-foot average floorplates and an attached seven-story, 467-space parking structure.
HFF marketed the property on behalf of the seller, RPD Catalyst. Additionally, HFF worked on behalf of the new owner to secure the five-year, fixed-rate acquisition loan with RGA Reinsurance Co.