Carlyle Group forms JV to develop TX towers.The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. and Means Knaus Partners, L.P., a Texas-based real estate and investment firm, have formed a joint venture to develop One & Two Oak Park, a $75 million, 300,000 s/f, two-building office project in the Westchase Westchase is a placename used in the United States:
n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. of West Houston. Carlyle will be the primary capital provider and Means Knaus will serve as operating partner and developer. Groundbreaking is scheduled for January 2008, with first-phase occupancy slated for December 2008. "This 8.4-acre site is the last tract to be developed in Oak Park at Westchase and the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae site in the park," said Peyton Collins, managing director of Means Knaus. Carlyle Principal Tommy Ellis Tommy Ellis was a NASCAR short track ace of the 1970s and 1980s. Often referred to as "Terrible" Tommy Ellis for his rough tactics, he won the National Late Model Sportsman championship in 1981 and was one of six drivers enrolled in the Winner's Circle plan at the formation of the said, "We're pleased to partner with Means Knaus on this significant project in a prime location. Houston has strong economic fundamentals led by employment growth and good supply/ demand dynamics. We see solid fundamentals for all sectors--office, hotel, industrial, retail and industrial--and expect that Carlyle will add to its investment portfolio in Houston." The first phase is a Class A, 150,000 s/f, six-story office and garage project. Both structures will seek LEED-NC silver certification. Gensler is the project architect with Colville Office Properties as the leasing agent. Tribble and Stephens Company is the contractor, and Holliday Fenoglio Fowler, LP, has arranged the financing for the development with Amegy Bank. |
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