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HOUSTON-In its first partnership with AmREIT, Atlanta-based Songy Partners Ltd. has invested in the First Capital Bank Building, an 11-story, 133,507-sf office building in the Galleria submarket. The JV, with a 50-50 structuring, will redevelop the 40-year-old building into an office, retail and high-density residential project.

“We just closed on this partnership and right now we’re in preliminary design phase,” David Songy, CEO of Songy Partners, tells GlobeSt.com. “The site is large enough where it could be divided into separate uses, but it’s too early right now to talk about cost or what this specifically will become.” The class B office building sits on 3.2 acres at 5433 Westheimer Rd. He says the partners hope to keep the majority of the office tenants after the renovation.

An affiliate of AmREIT acquired the 70%-occupied building from Boston-based AEW Capital Management LP and McCord Development Inc. of Houston earlier this year. The Harris County has the Galleria footprint assessed at $7.2 million.

Songy is mum about how much his company’s investing into the deal, but he tells GlobeSt.com that it’s a 50-50 venture that resulted from mutual acquaintances. “We’re in the business of acquiring and renovating properties in what we call urban infill locations,” he explains about the interest, “and this building fits the category.”

Though it’s a first-time teaming, Songy is no stranger to Houston. Its track record includes the redevelopment of 777 Post Oak and the acquisition of the Landmark Graphics Building and 11 abutting acres in 2002. “We’ve been investing in Houston and Dallas since 1998,” he says. “We’ll continue investing there.” And, he adds the company is examining additional opportunities in both cities right now, though nothing, as yet, is under contract.

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