Texas’ tallest tower trades for $627M

​​​​​​HOUSTON – Cerberus Capital and Hines have acquired​ the JP Morgan Chase Tower at 600 Travis St. for $627 million. 

The 1.7 million-sf tower is the tallest building in Texas.

The deal also includes the adjacent 407,000-sf Chase Center, at 601 Travis St. 

New York-based Cerberus will own 90 percent of the properties, while Hines will take a 10 percent share.

The seller was Hairiri Interests, operating as Prime Asset Management. 

​Hines has been managing both properties. Colvill Office Properties is handling leasing.