​Transwestern's Houston headquarters today announced that Transwestern has brokered the sale of the Houston Pavilions, a 556,000 mixed-use property located in the heart of downtown Houston at 1201 Fannin. Canyon-Johnson Urban Funds (Canyon-Johnson) and Midway Cos., a Houston-based development firm, have jointly acquired the Class “A” property.

Transwestern’s Ken Page, managing director of investment services, Scott Myers, vice president of investment services, and Micha Van Marcke, senior vice president of retail services, represented the seller in the transaction. Transwestern was appointed as receiver for the Pavilions late last year after the original developer, Houston Pavilions LP, defaulted on its loan.

According to Page, “The Pavilions was a very complex assignment. Fortunately, the Houston office of Transwestern has an incredible depth of experience that we were able to utilize to assist in the marketing and sale of the property.” Page went on the say that the transfer of ownership to Canyon-Johnson and Midway should allow the Pavilions to live up to its full potential to the benefit of the buyer and all of Houston.

Houston Pavilions is an entertainment, dining, retail and office hub in downtown Houston. The center is comprised of 300,000 square feet of retail space, 260,000 square feet of office space and a 1,600-space parking garage. The property includes House of Blues, Forever XXI, McCormick & Schmick’s and Lucky Strike.

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