Crystal River Capital Inc., a real estate investment trust, said Friday it agreed to buy two office buildings in Phoenix and Houston for about $234 million.

JPMorgan Chase, the main tenant of both of the buildings, will continue to occupy them after the deal closes.

Crystal River is buying the buildings from Brookfield Real Estate Opportunity Fund, an affiliate of Brookfield Asset Management Inc.

Separately, Crystal River bought BREF One LLC, a real estate finance fund sponsored by Brookfield Asset Management, for $28.5 million.

Shares of Crystal River fell 16 cents to $27.02 on the New York Stock Exchange.

This entry was posted on Saturday, February 24th, 2007 at 3:32 am and is filed under Real Estate. Tags: finance Houston JPMorgan New York New York Stock Exchange Office Building Phoenix Real Estate real estate finance real estate investment real estate investment trust real estate opportunity real estate opportunity fund The Buildings . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.