BofA Center high-rise changes hands

Joint venture makes Texas purchase

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The Bank of America Center in downtown Houston has sold to a joint venture for an undisclosed price. A partnership between Dallas-based Novati Group and an affiliate of General Electric Pension Trust purchased the 1.2 million-square-foot, class AA office property from Hines U.S. Office Value Added Fund. The Bank of America Center, which features 56 stories of office space, a 12-story banking hall and underground parking for 295 vehicles, is located at 700 Louisiana St. Also included in the sale was the adjacent 966-space Alley Theatre garage. At the time of sale, the property was 93 percent occupied by anchor tenants Bank of America, KPMG, Deutsche Bank and Bear Energy. ...