“Foreclosure Results in Acquisition of Houston’s Historic Buildings”

"Foreclosure Results in Acquisition of Houston's Historic Buildings"

Interra Capital Group has recently acquired the iconic Esperson complex located in downtown Houston. The purchase was made through a foreclosure process, after Interra purchased the note from MetLife. This historic property is situated at 808 Travis Street and spans over 600,000 square feet.

The acquisition was completed for $12 million, making Interra the highest bidder at the foreclosure sale. The previous owner of the buildings since 2012 was Contrarian Capital Management. According to Commercial Edge reports, an original note of $52.8 million was issued in 2018 and later amended to a reduced loan amount of $41 million in 2022.

Cameron Management led the foreclosure process and will continue to oversee Property and Facilities Management for a designated period of time.

The Esperson complex comprises two structures – one with 32 stories and another with19 stories – featuring stunning Italian Renaissance architecture that has been well-preserved over time. In addition to its historical significance, this office complex offers modern amenities such as a conference center, on-site property management services,and a food court with multiple dining options for tenants’ convenience.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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