Tulsa Property Company Sold For $440 Million
TULSA, Okla. (AP) _ Williams Companies Inc. said Monday it has agreed to sell its real estate subsidiary to Trammell Crow Co. and Edward J. DeBartolo Corp. for $440 million, including the assumption of $268 million in debt.
Properties in Tulsa, Denver and Charlotte, N.C., will go to Dallas-based Trammell Crow. The DeBartolo group will purchase Williams Realty’s Rivercenter development in San Antonio, originally a joint venture between DeBartolo and Williams.
The Tulsa-based Williams Companies, whose main business is transmission of natural gas and petroleum products, expects to record a significant gain on the sale, Joe Williams, the chairman, said in a statement.
Williams Realty has 209 employees, 158 in Tulsa. Company spokesman Graham Sudbury said no announcement has been made on the future of those employees.