National Real Estate Advisors, LLC, on behalf of its client, National's Commingled Real Estate Investment Fund, is pleased to announce a joint venture equity investment, with PM Realty Group (PMRG), in the acquisition of 3333 Richmond Avenue. The site includes an existing eight-story, 96,000 square foot office building as well as three acres of excess land. Future development possibilities for the site include an office building and associated parking. The five acre site is located in the heart of Houston's Greenway Plaza submarket, which is less than five miles away from Houston's Central Business District and upscale retail and dining destinations of River Oaks and West University.
National's partner, PM Realty Group, is a Houston-based national real estate company which also specializes in property management of commercial properties. The company currently manages roughly 180 million square feet of office, industrial and retail properties on behalf of corporate, institutional, REIT, healthcare and government agency property owners nationwide.