Unilev Capital JV sells 3-building office portfolio in Houston

Written By Grant Cassingham
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A partnership led by real estate investor Unilev Capital Corp. sold a three-property office portfolio, covering 544,291 square feet, located west of Houston's Galleria area, to CapRidge Partners LLC for an undisclosed sum.

The portfolio comprises the 1616 Voss, 7500 San Felipe and 6363 Woodway properties. For the purchase, the buyer obtained a floating-rate acquisition/bridge financing through New York Life Real Estate Investors on behalf of New York Life Insurance Co. for a four-year term. 

CapRidge plans to spend roughly $15 million to renovate and reposition the three buildings.

The seller tapped HFF Inc. to broker the property. HFF also arranged financing for CapRidge.

Source: S&P Global Market Intelligence

Grant Cassingham
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