In a release, Roger Bilstad, SVP of Colliers Real Estate Management Services, says that Colliers is taking over the portfolio in an effort to help Panattoni achieve "immediate and long-term business objectives," which according to Dean Mueller of Colliers, allows Panattoni to "focus on [Panattoni's] most strategic asset management issues." Mueller points to investment and development opportunities as the source of Panattoni's new focus.

The entire portfolio was undisclosed, but the Houston properties--which comprise seven office and one industrial--totaling 4.1 million square feet were. The portfolio is comprised of: 33,000-square-foot 10120 Northwest Freeway; 5,823-square-foot 12650 North Featherwood Dr.; 62,607-square-foot 13100 Wortham Center Dr.; 65,550-square-foot 5050 Westway Park Blvd.; 103, 200-square-foot 6161 Rothway; 129,505-square-foot 10900 Corporate Centre Dr.; 131,908-square-foot 4920 Westway Park Blvd.; and the industrial building, 486,720-square-foot 14500 North Freeway.