JLL: JLL Brokers Sale of West Houston Office Portfolio Totaling 570,045 SF

HOUSTON - JLL has brokered the sale of Ashford 5, a portfolio of three office buildings totaling 570,045 square feet in West Houston. The eight-story buildings are situated on a 12.2-acre site adjacent to I-10 in the Energy Corridor area. Renovated between 2014 and 2016, the portfolio offers amenities such as a fitness center, tenant lounges and separate parking garages for each building. Marty Hogan, Kevin McConn, Rick Goings, John Ream and Clay Anderson of JLL represented the seller, a court-appointed receiver, in the transaction. The team also assisted the buyer, an entity doing business as LFFP Ashford Portfolio, in the assumption and modification of the seller's in-place loan. At the time of sale, the portfolio had an occupancy rate of 58 percent and a tenant roster with a weighted average remaining lease term (WALT) of 4.7 years.The post JLL Brokers Sale of West Houston Office Portfolio Totaling 570,045 SF appeared first on REBusinessOnline.