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$110 Million in Bellaire? West Loop Buildings Sold

Offices at Pin Oak Park

BELLAIRE, Texas – (Realty News Report) – A group of five office buildings, totaling 505,000-SF near Loop 610 in Bellaire, have been acquired by Norvin Healthcare Properties of New York.

The seller was a partnership of Investcorp and Griffin Partners of Houston.

The Bellaire portfolio was called the Offices at Pin Oak Park.The buildings are located at 4710 and 4747 Bellaire Blvd., and 6700, 6750 and 6800 West Loop South in Bellaire.

The purchase price was not disclosed, but last year when the building was being marketed, the price had been projected to be about $110 million, according to Real Estate Alert.

Investcorp and Griffin acquired the buildings in 2012 from McCord Development. Years ago, the late Rick McCord acquired a number of office buildings in Bellaire, all along Loop 610.

CBRE’s Brandy Bellow Spinks and Warren Savery will handle leasing of the buildings, which are 93 percent leased.

HFF arranged financing for the buildings through Goldman Sachs and Capital One.

Feb. 19, 2018 Realty News Report Copyright 2018

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