ChannelTwoNews Posted September 13, 2023 Share Posted September 13, 2023 https://www.bisnow.com/houston/news/office/energy-corridor-office-high-rise-scheduled-to-be-sold-at-foreclosure-auction-120631 "Pacific Life Insurance is moving to foreclose on a $70M loan backed by Four Westlake Park, a 588K SF office building in Houston's Energy Corridor. The 20-story building is scheduled to be sold at auction Oct. 3, according to Harris County online foreclosure documents filed last week. The borrower that defaulted on the $70M loan is Four Westlake Owner, a limited liability company tied to Philadelphia-based Treeview Real Estate Advisors, the documents show. " 1 Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted October 17, 2023 Author Share Posted October 17, 2023 https://www.bisnow.com/houston/news/office/even-half-off-discount-fails-to-generate-buyer-for-energy-corridot-high-rise-121087 "Pacific Life Insurance took back Four Westlake Park, a 588K SF, 20-story building in the Energy Corridor, for its starting bid of $30M after no one topped it at the Harris County foreclosure auction on Oct. 3, according to online records. That is less than half of the $70M Pacific Life Insurance loaned to Treeview Real Estate Advisors to purchase the building in February 2020, and it is barely a third of the $86M at which the Harris Central Appraisal District valued the building in January." Quote Link to comment Share on other sites More sharing options...
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