Skanska Divests Majority Interest in Downtown Houston’s Bank of America Tower for $373M

Bank of America Tower in Houston spans 780,000 square feet. The project was completed earlier this year.

HOUSTON — Sweden-based international developer Skanska has divested its 90 percent interest in Bank of America Tower, a 780,000-square-foot office building in downtown Houston, for $373 million. Construction of Bank of America Tower, which houses tenants such as Bank of America, Waste Management, Winston & Strawn LP, Quantum Energy Partners and Skanska, began in 2017 and was completed earlier this year. The property features an open-air community hub that includes a full-service restaurant and a culinary market with seven chef-driven concepts and a cocktail bar. Skanska sold its majority interest to an affiliate of Boston-based Beacon Capital Partners. Eastdil secured arranged a $240 million acquisition loan through PGIM Real Estate Finance for the transaction.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties