HOUSTON — Principal Real Estate Investors (PREI), one of the largest institutional real estate managers in the U.S., has acquired 2000 St. James Place, a 335,000-square-foot office building in Houston's Galleria submarket. The office building is fully leased to Weatherford International. PREI purchased the property on behalf of a consortium of South Korean Investors, including Korean Federation of Community Credit Cooperatives, Korea Scientists and Engineers Mutual-Aid Association and Simone Investment. The managing member of the South Korean investment group is represented by Simone Investment. The selling group was led by CORE Real Estate. Woori Asset Management is the South Korean onshore asset manager and PREI is the acting U.S. asset manager. CBRE Group helped broker the transaction.
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