Galium Continues Houston Buying Spree, Market briefs

In Houston, Coventry Real Estate Advisors and The Dinerstein Companies have sold Millennium High Street, a multi-use apartment and retail project in the River Oaks District of Houston.

The six-acre development, located at 4410 Westheimer, just east of Loop 610, was purchased by Galium Capital.

Galium Capital, based in Miami, owns several multifamily properties in the Galleria/Uptown area, including the 431-unit Tate at Tanglewood, the 361-unit Fairmont on San Felipe and the recently purchased 340-unit Millennium High Street apartments.

Millennium High Street also has 26,000 SF of commercial space leased to Fidelity Investments and the Seasons 52 restaurant. Millennium High Street, is a LEED Gold-Certified, 332,984-SF property. It was built in 2013, almost across the street from the site of the former Tokyo Gardens restaurants.

JLL’s Matt Kafka represented the sellers in the transaction.

Houston-based Dinerstein Companies, which was founded in 1955, has developed 50,000 units over the years. Dinerstein is currently developing the 383-unit Aspire Post Oak, a 40-story residential tower at San Felipe and Post Oak Boulevard.

Coventry, led by President and CEO Peter Henkel, has invested over $3 billion in transactions comprising 212 properties, 21 million sq ft in 43 states.

Galium Capital, led by Iser Rabinovitz and Jacques Bessoudo, owns 200 single-family homes in addition to retail, office and multifamily.