Following a recent successful recapitalization of One Riverway, ownership—One Riverway Venture LLC an entity controlled by Azrieli Group and Unilev Capital, professionally managed by Unilev Management Corp.—is now strategically positioned to actively pursue new leases, renewals, and tenant expansions at the 507,565-square-foot, Class A office tower in Houston’s Galleria area. The recapitalization includes a loan modification with an additional equity contribution.
The strengthened capital structure paves the way for a significant reinvestment into One Riverway. Planned improvements include common area upgrades to corridors and restrooms, full elevator modernization, and the delivery of move-in-ready spec suites tailored to meet the evolving needs of today’s office users. Located at 777 South Post Oak Lane, the 25-story office tower offers expansive views of both the Galleria and Downtown Houston. Tenants benefit from a wide range of on-site amenities, including a tech-enabled conference center, a state-of-the-art fitness facility, an on-site café, outdoor terraces, and ample garage parking.
“One Riverway is an iconic landmark office tower modernized to meet the 21st-century needs of our tenants,” said Raymond Levy, President of Unilev Capital and Unilev Management.
This news coincides with the recent engagement of Global Fund Investments (“GFI”) as the Asset Manager on Azrieli Group’s 3 million-square-foot office portfolio in Houston and Austin. GFI, a retail-focused investor with 5 million square feet of assets across five states, has partnered with Jason Presley, who has 27 years of experience in the office sector, to oversee the portfolio.
“Recapitalizing One Riverway allows us to move quickly and creatively in a dynamic leasing environment, at a time when competing projects often do not have the capital to transact,” said Jason Presley. “We’re reinvesting in these assets to ensure One and Three Riverway remain a top-tier destination for tenants in Houston’s Galleria area.”
An entity controlled by Azrieli Group and Unilev Capital also owns the neighboring Three Riverway, located at 3 Riverway Drive. Three Riverway currently has no mortgage loans and remains positioned to actively pursue new leases, renewals, and tenant expansions. Both towers offer access to modern amenities, a prime location, and a strong ownership group focused on long-term value. One and Three Riverway can accommodate office users of all sizes, from 1,086 square feet to 101,330 square feet.
Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, will continue to handle the leasing for the property on behalf of building ownership. The leasing team is led by Managing Director of Office Leasing Matt Asvestas, Senior Vice President Brad Fricks, and Senior Associate Danielle Rothchild.
