Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of BBVA Compass Plaza, a Class AA, best-in-class office building totaling 326,200 square feet in Houston, Texas. BBVA Compass Plaza is the first office building to be delivered to the Galleria area in nearly three decades.

HFF marketed the asset on behalf of the seller, a joint venture partnership between Stream Realty Partners, L.P., TRC Capital Partners (formerly The Redstone Companies) and an institutional client of L&B Realty Advisors, LLP. Masaveu Post Oak Houston Delaware LLC purchased BBVA Compass Plaza for an undisclosed amount.

Completed in 2013, BBVA Compass Plaza is a LEED Gold Certified, 22-story, podium-style building that is 83 percent leased. BBVA Compass Bank occupies 58 percent of the net rentable area, and the remaining tenants are a mix of national and international firms that are drawn to the property’s walkability in the Galleria area of Houston and its 24/7 environment. The recently completed property features a 1,144-space parking garage, a full retail bank branch, fitness center and two upscale restaurants; Caracol, which has been named the “#1 Place to Eat Now” by Texas Monthly, and Oka Sushi, which is the fusion brainchild of restauranteur Tony Sha. WalkScore.com rates the area as an 82 for walkability with access to more than 55 restaurants and numerous mixed-use developments including Uptown Park and the Galleria Mall. BBVA Compass Plaza is situated in Houston’s Galleria submarket with immediate access to Loop 610, Interstate 10, Highway 59 and Westpark Tollway, linking all of greater Houston. It is also within a 15 minute drive of Houston’s most prestigious residential neighborhoods including River Oaks, Tanglewood and The Villages.

“The sale of BBVA Compass Plaza reflects the continued interest of foreign capital in Class A product in superb locations in Houston such as the Uptown/Galleria submarket,” said Steve Lerner, CEO of TRC Capital Partners.

Preston Young, regional managing partner at Stream added, “This transaction is yet another shining example of the desirability amongst our industry’s most prominent investors to have a presence in Houston.”

The HFF investment sales team was led by executive managing director Scott Galloway, senior managing directors Dan Miller and Matt Kafka, managing director Colby Mueck and director Trent Agnew.

“With its groundbreaking, BBVA Compass Plaza ignited a development renaissance in Houston’s most coveted submarket that is on-going and encompasses more than 6,050 luxury multi-housing units, more than two million square feet of office space, in excess of 697,000 square feet of high-street retail and two new luxury hotels,” added Miller. “The transformative impact that this property has had on the Galleria skyline cannot be overstated, placing it at the forefront of the ‘urbanization’ movement in the Houston marketplace.”

About Stream

Stream Realty Partners, L.P. (Stream) is a national, commercial real estate firm with locations across the country. Stream’s full-service offerings cover the broad spectrum of leasing, management, development and construction services across the commercial and multifamily industry. In addition, Stream specializes in sourcing acquisition and development opportunities for the firm and its clients. Since its formation in 1996, Stream has grown from its two original partners to a staff of more than 625 real estate professionals nationwide with regional offices in Atlanta; Austin; Charlotte; Dallas; Denver; Fort Worth; Houston; San Antonio; Southern California; and, Washington, D.C. Stream currently has more than 130 million square feet of assignments across the nation; completes over $2.4 billion in real estate transactions annually; and is considered one of the most active investors and developers in the real estate industry. www.streamrealty.com

About TRC Capital Partners

TRC Capital Partners (TRC) is a Houston-based, privately held development and investment firm managing both private and institutional capital. The TRC portfolio has included over $700 million in hospitality assets and over $350 million in commercial real estate. In addition, TRC has invested in companies with aggregate values in excess of $400 million in sectors such as energy, food service, homebuilding, multifamily development, banking, and financial services companies ranging from commercial leasing to mortgage companies. Notable TRC real estate projects have included BBVA Compass Plaza, The Redstone Building, Houstonian Hotel, Club & Spa, Hyatt Regency Town Lake, Hilton Dallas/Rockwall, and Hilton Westchase. For more information, visit trccapitalpartners.com.

About L&B Realty Advisors, LLP

L&B Realty Advisors, LLP has provided investment management services including research, portfolio management, acquisitions, asset management and development management to institutional investors and individual clients in office, retail, industrial and multifamily real estate for 50 years. The company manages a national portfolio of over 20 million square feet of office, retail, industrial and multifamily properties valued at $7.2 billion. For more information visit http://www.lbrealty.com.

About HFF

HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.