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HOUSTON - Houston billionaire Tilman Fertitta expanded his collection of high-end properties with the purchase of the River Oaks District. This luxury multipurpose retail plaza is central to exclusive commerce.
Situated at the corner of the I-610 Loop and Westheimer Road, the center boasts luxury entertainment options, including upscale restaurants, exclusive retail stores, and a movie theater.
While Fertitta has not disclosed the purchasing price, according to the Houston Chronicle, the River Oaks district was purchased for an estimated $450 million. In 2016, the previous property owner, JPMorgan Asset Management purchased the River Oaks District for $550 million.
As of 2023, Fertitta has a net worth estimated at $8.4 billion. The Houston Billionaire placed No. 260 on the Forbes Billionaires List, and as the CEO and owner of Landrys, Inc., Fertitta is no stranger to extravagant purchases.
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The Houston Billionaire has an extensive portfolio of acquiring Houston’s luxury centers, including The Post Oak Hotel at Uptown and its adjacent high-end restaurants, and Post Oak Motor Cars.
Additionally, reflective of his interest in entertainment, the Houston Billionaire owns the National Basketball Association's Houston Rockets and the chain of Golden Nugget Casinos.
"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," said Fertitta.
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With more than 300,000 square feet of retail, over 67,000 square feet of office space, and 279 apartment units, the River Oaks District offers a combination of high-end retail and luxury brands including Hermes, Cartier, Rolex, Dior, Van Cleef & Arpels, Patek Phillip, Brunello Cucinelli, Balmain, Zimmerman, and Harry Winston.