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HDG MANSUR ANNOUNCES THE ACQUISITION OF AEROSPACE PLAZA
31 March 2007
Indianapolis, IN – HDG Mansur has completed the acquisition of Aerospace Plaza near
Houston, Texas, on behalf of a fund it manages. This transaction comprises two buildings totaling
160,000 sq. ft. of recently renovated office space, a two-level parking garage and 6.5 acres of land.
The properties, 100% occupied by Lockheed Martin Corporation and Science Applications International Corporation, are situated directly across NASA Parkway from NASA's Johnson Space Center which is the Mission Control for all U.S. manned space flight communications and control, located in the Houston submarket of Clear Lake.
"This was an opportunistic investment in a submarket that is in its growth stage of the development cycle with a diversifying economy, improved access with the soon to be completed Bypass connecting NASA Road 1 to Interstate 45 and strong projected population and employment growth trends. The recent building renovations made in connection with the new leases make this an attractive investment," comments Harold D. Garrison, Chairman & CEO of HDG Mansur. "We are pleased to further our activity in the Houston area with this acquisition."
Notes to Editor:
HDG Mansur is an international real estate industry leader with 25 years experience in providing real
estate fund and asset management services and property development services. These services are
structured to support the specific requirements of high net worth individuals and their private banks, trust companies and financial advisors. As of December 31, 2006, HDG Mansur's business activity includes:
$5.3 billion in international real estate investments
$4.0 billion in real estate financing
$1.1 billion in planned and managed equity
$2.9 billion in real estate value of fund investments
28 million square feet in real estate investments
25 years of experience
3 offices worldwide – London, New York and Indianapolis
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