An aerial shot of River Oaks District (photo by Shannon O'Hara)
According to a source cited by the Houston Chronicle, Fertitta paid close to $450 million for River Oaks District, which has retail offerings including Cartier, Balmain, Zimmerman, Brunello Cucinelli and Dior, plus more than 67,000 square feet of office space, and 279 apartment units. The development was previously owned by "an entity tied to JPMorgan Asset Management, which bought the center for $550 million in 2016," per the Chronicle.
“Adding River Oaks District to our Post Oak Hotel family of offerings seamlessly complements the curated experience we have created for the luxury-seeking consumer,” said Fertitta in a statement. “This is the perfect moment in time to add this premier mixed-use development to our luxury portfolio, creating incredible cross-promotional opportunities and elevating the standard for luxury dining and shopping for Houstonians and international travelers alike.”
The statement touted the "synergy" among Fertitta's award-winning Post Oak Hotel, adjacent Post Oak Motor Cars, his high-end Uptown restaurants, and his latest acquisition of River Oaks District.
River Oaks District (photo by Francisco Ramos)
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