"There aren't many 7-foot players who have the skills that D-Mo possesses," owner Leslie Alexander said, according to Fox 26 in Houston.
Coach Mike D'Antoni, who is in his first year with the Rockets, also praised Motiejunas.
"He's skilled, 7 feet, knows how to really play basketball, a hard worker," D'Antoni said. "Above all, just his basketball intelligence will be great for any team; it will be great for us. We just got to fit him in and work it out and get him into shape. It's going to take a little bit, but there's time."
After the Nets offered the deal to Motiejunas, Houston had a 72-hour window until midnight Monday to match.
Motiejunas will have to pass a physical before joining the Rockets. He passed a series of tests on his back when he signed the offer sheet with the Nets last week.
The Rockets attempted to trade the Lithuanian big man to the Pistons last year, but back issues scuttled that swap.
Motiejunas averaged 6.2 points and 2.9 rebounds per game last season.