SOURCE: Lincoln Property Company

Lincoln Property Company

September 08, 2016 09:01 ET

SkyHouse Partners Announces Grand Opening of Second Luxury Tower in Central Business District

First SkyHouse Leased Up, New Building Continues Downtown Momentum

HOUSTON, TX--(Marketwired - Sep 8, 2016) - SkyHouse Main, downtown Houston's newest apartment tower, will host its grand opening celebration on October 20, 2016. With the first residents moved in, SkyHouse Main joins SkyHouse Houston in remaking two full blocks of the Central Business District into a live-work-play neighborhood.

Opened in the summer of 2014, SkyHouse Houston is leased up and the new tower, a mirror-image of the first, has experienced strong early demand.

"We join Batson-Cook Development Company and our local partner, Peter W. Dienna, in welcoming the first residents to SkyHouse Main," said Jim Borders, President, Novare Group. "We had confidence from the start and have received tremendous support and encouragement from the City of Houston on this project, and this success is a result of everyone pulling together to make a concerted vision for this part of town a reality."

SkyHouse Main is located at 1725 Main Street and features 336 residences, is 24 stories and has 7,200 square feet of street-level retail space. The mixed-use project will be home to renter-by-choice professionals, who want to live in urban centers close to public transportation, employment centers and cultural institutions.

The apartment homes all have floor-to-ceiling glass and nine-foot-plus ceiling heights with high-end finishes, including stainless steel appliances, granite counter tops, wood floors, expansive balconies and high speed internet. The market-leading amenity package includes the signature "SkyHouse" on the top floor including a club room, fitness center, pool, and grilling area, with unimpeded views of much of Houston.

The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. It is near the Bell Station Metrorail stop, providing residents with access via public transportation to the surrounding areas including the Texas Medical Center, the largest medical center in the world and a large economic driver within the Houston metro.

The project is a collaboration between Atlanta developers Novare Group, Batson-Cook Development Company and Houston-based development partner Peter W. Dienna. Sumitomo Mitsui Banking Corporation provided financing for SkyHouse Main along with NGI Investments, LLC, led by Borders, and Batson-Cook Development Company.

SkyHouse Main is one of 17 SkyHouse-branded apartment communities in the United States following projects in Dallas, Houston, Denver, Nashville, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The program represents more than $1.7 billion in new construction since its inception in 2012.

SkyHouse Main is under the professional management of Lincoln Property Company, the second largest multifamily manager in the United States. For information on leasing, call 713-965-0220 or visit skyhousemain.com.

About Novare Group
Novare Group is a real estate development and investment company headquartered in Atlanta, Georgia, consisting of several investment and operating companies, including Novare Group Holdings, LLC and NGI Investments, LLC. Since 1995, Novare Group has developed over 12,600 high-rise residences in 38 high rise buildings around the United States. Learn more by visiting www.novaregroup.com.

About Batson-Cook Development Co.
Founded in 1963, Batson-Cook Development Company is a wholly owned subsidiary of Kajima USA. It is a fully integrated real estate organization providing development and capital solutions primarily through partnerships on commercial real estate projects in the Southeastern United States. Based in Atlanta, Georgia Batson-Cook Development Company offers a wide variety of real estate services from development and construction, to equity and credit enhancements, to brokerage and property management. Learn more by visiting www.batsoncookdev.com.

About Peter W. Dienna
Peter W. Dienna of DNA Partners, Ltd, provides development and project management services for all types of commercial real estate, including corporate office buildings and interior build-out of corporate office space. Since 1981, Dienna's companies have completed 94 projects totaling more than 9.5 million square feet, with a value of almost $750 million dollars.

About Lincoln Property Company
Lincoln Property Company was founded in 1965 as a builder and operator of high-quality residential communities. Today, their product mix includes commercial, build-to suite, office, industrial, student, military, and other mixed-use assets. Headquartered in Dallas, TX, Lincoln focuses on real estate investment, construction and development, in addition to property management. Their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader.

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