{"id":1004257409,"date":"2018-08-14T00:33:27","date_gmt":"2018-08-14T08:33:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004257409"},"modified":"2022-12-08T20:27:10","modified_gmt":"2022-12-09T04:27:10","slug":"nicola-crosby-buys-50m-houston-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nicola-crosby-buys-50m-houston-office-building\/","title":{"rendered":"Nicola Crosby Buys $50M Houston Office Building"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004257433\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004257433\" data-attachment-id=\"1004257433\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nicola-crosby-buys-50m-houston-office-building\/westgate-i\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;2.8&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC300X&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1502377932&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;3.61&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0005&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Westgate I\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Westgate I&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg?w=800\" class=\"wp-image-1004257433 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Westgate-I.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004257433\" class=\"wp-caption-text\">Westgate I<\/p><\/div>\n<p>Nicola Crosby Real Estate has acquired Westgate I, a Class A office building in Houston. Miller Global Properties sold the asset for $50 million, according to Yardi Matrix data. HFF worked on behalf of the buyer to arrange a seven-year, 4.6 percent fixed-rate acquisition loan through Principal Real Estate Investors.&nbsp;<\/p>\n<p>Located at 17220 Katy Freeway, the property comprises 248,707 square feet across four stories. Built in 2013, the 5.9-acre building is part of a three-asset master-planned development totaling more than 660,000 square feet. Features of Westgate I include high-quality finishes, a fitness center, cafe, five-level parking garage with 1,056 spaces and three passenger elevators. The building,&nbsp;designed to LEED Gold standards, is currently 95.7 percent leased, anchored by Subsea 7 and Atkins PLC, which together occupy 68 percent of the total rentable space. Other tenants include Skyline Deli, G&amp;A Partners, Mazda, Langan and Strategic Materials.&nbsp;<\/p>\n<p>HFF&#8217;s Managing Director Cortney Cole led the debt placement team representing the borrower.&nbsp;<\/p>\n<p>In April, Nicola Crosby <a href=\"https:\/\/www.commercialsearch.com\/news\/swift-real-estate-sells-wa-office-asset\/\">acquired the $25.5 million Swift Gateway<\/a>, an office building in Bellevue, Wash., from&nbsp;Swift Real Estate Partners.<\/p>\n<p><em>Image courtesy of HFF&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HFF worked on behalf of the buyer to arrange a seven-year, 4.6 percent fixed-rate acquisition loan for its purchase of Westgate I, a four-story, 249,00-square-foot asset.<\/p>\n","protected":false},"author":746,"featured_media":1004257433,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1589,21783,21742,21747],"tags":[41576,32792,41573,37366,33706],"class_list":["post-1004257409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-houston","category-investment","category-latest","category-office","tag-cortney-cole","tag-hff","tag-miller-global-properties","tag-nicola-crosby-real-estate","tag-principal-real-estate-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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