Interra Capital Group Acquires Houston’s Park Towers Office Portfolio in Galleria/Uptown

Interra Capital Group has completed the acquisition of Park Towers, a substantial office portfolio comprising 552,250 square feet across two 18-story buildings in Houston's prominent Galleria/Uptown area. The property, located at 1233 and 1333 West Loop South, was sold by Regent Properties, with JLL representing the seller and securing acquisition financing through Morgan Stanley for Interra Capital. While the official sales price was not disclosed, it was estimated to be around $110 million, or $200 per square foot.

Built in 1972 and extensively renovated between 2016 and 2022, Park Towers boasts an 89.5% occupancy rate and a weighted average lease term of 6.3 years. The portfolio offers a diversified tenant base and amenities such as a fitness center, tenant lounge, conference facilities, and on-site wine storage. This transaction follows Interra Capital's previous acquisition of the 4.5 million-square-foot Greenway Plaza office campus last year, signaling continued investment in Houston's office market. Transwestern will continue to manage leasing services for the new owner.