Interra Capital Acquires 4.5 MSF Houston Landmark

April 13, 2026

Investment Houston Mixed Use News More Office Southwest

The investor bought the property through a receivership sale.

Interra Capital Group has acquired Greenway Plaza in Houston, a 4.5 million-square-foot mixed-use office campus. The 53-acre property is one of the largest infill business districts in the U.S. Interra acquired the property through a receivership sale led by Trigild Texas, Greenway Plaza’s court-appointed receiver. A purchase price was not disclosed.

Greenway Plaza includes 11 office towers and was developed in the late 1960s. Parkway Properties purchased the site in 2013 from Crescent Real Estate for $1.1 billion, Yardi Matrix shows. Parkway later sold a 24.5 percent stake to Silverpeak and Nuveen Real Estate in 2017. It was most recently owned by a joint venture of CPP Investments, Nuveen and Silverpeak.

This asset expands Interra’s portfolio as the company focuses on large-scale investments with value-add opportunities. The company is using an active ownership and asset management strategy that will focus on operations, tenant expansion and long-term positioning. According to Lincoln Property Co., Greenway Plaza has 1.5 million square feet still available for leasing.

Tenants across the development include Invesco, Teach for America, PBK, The Sterling Group and Occidental Petroleum Corp., according to Yardi Matrix. Across the campus, there are multiple retail and dining options as well as a fitness center, food court, transportation center and a DoubleTree by Hilton hotel.

Interra is bringing CBRE on to lead leasing efforts across the campus moving forward. Greenway Plaza is near Interstate 69 and is 6 miles from downtown Houston. The Houston Zoo is approximately 4 miles away.

Distress drives the sale

The previous borrower defaulted on an existing $465 million loan tied to Greenway Plaza after it matured in 2022. Refinancing efforts were unsuccessful. After entering forbearance, the loan was paid through June 2023. After that, the borrower was unable to perform under the agreement. The property was put up for sale in 2024, the Houston Chronicle reported.

Following the pandemic, the Houston office market has been sluggish with a high vacancy rate and office assets trading for low prices. By the end of 2025, the market began showing signs of recovery but still performed below the national vacancy rate average of 18.5 percent. According to Yardi Matrix data, in November 2025 the office vacancy rate in the metro was 20.2 percent, dropping 410 basis points year-over-year.

Interra has added similar assets to its Houston portfolio. In August 2024, the firm acquired The Esperson Buildings following a foreclosure with Metropolitan Life Insurance Co. The purchase included two office buildings totaling 600,000 square feet.