Houston’s Heritage Plaza was sold for $110...
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Houston’s Heritage Plaza was sold for $110 million to a Houston-based partnership whose major investor is the Michigan Employees Retirement System. The 53-story tower, which is the downtown area’s newest and emptiest skyscraper, was sold by 261 Associates Ltd. to Coventry Fund III. Coventry Investment Group, a Houston investment adviser, will manage the building as general partner. Heritage Plaza was completed in 1986 but has yet to attract a large tenant. Only 8% of the 1.2-million-square-foot plaza is occupied, Coventry officials said.
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