JOINT VENTURE ACQUIRES LAKES ON POST OAK OFFICE COMPLEX

HOUSTON — A joint venture between Boca Raton, Fla.-based Crocker Partners and Stamford, Conn.-based Five Mile Capital Partners has acquired the 1.2 million-square-foot Lakes on Post Oak office complex in Houston's Galleria submarket. The Class A property, which is 89 percent leased, is adjacent to The Galleria Shopping Center with close access to U.S. Highway 59, the 610 West Loop and the Westpark Tollway. The office property includes three buildings: the 440,000-square-foot 3000 Post Oak Blvd.; the 421,000-square-foot 3040 Post Oak Blvd.; and the 334,000-square-foot 3050 Post Oak Blvd. Crocker Partners' predecessor entity, CRT Properties, once owned Lakes on Post Oak before the entity was sold in 2005. The purchase marks a re-entry into Texas for Crocker Partners and Five Mile Capital Partners first major acquisition in the Houston market.