Interra Capital Group has recently acquired Memorial Pointe, a 226,586 square foot office building in Houston. The property was previously owned by Gemini Rosemont and was purchased for $26.3 million in 2007. In 2017, the building received a loan of $17 million from BOK Financial.
According to reports from the Houston Business Journal, Interra obtained the property through a short sale with BOKF agreeing to reduce the outstanding mortgage balance by half.
At present, only 25% of the space is occupied and Interra plans to increase this number to over 75% before selling it off. The building underwent renovations in 2019 and offers various amenities such as fitness center access, showers, storage options,and conference rooms for tenants’ use. Additionally,the company intends on making further upgrades.
The office building is situated at11767 Katy Freeway within Energy Corridor area near Interstate10 and approximately15 miles away from downtown Houston.This acquisition marks another additiontoInterra’s growing portfolioof propertiesinthe region.
