{"id":924013,"date":"2026-07-09T21:21:30","date_gmt":"2026-07-09T21:21:30","guid":{"rendered":"https:\/\/www.europesays.com\/us\/924013\/"},"modified":"2026-07-09T21:21:30","modified_gmt":"2026-07-09T21:21:30","slug":"reit-in-chapter-11-bankruptcy-sells-7-building-houston-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/924013\/","title":{"rendered":"REIT In Chapter 11 Bankruptcy Sells 7-Building Houston Office Portfolio"},"content":{"rendered":"

An Atlanta-based investor bought an office campus known as The Preserve at North Loop from Silver Star CRE, a subsidiary of Silver Star Properties REIT<\/a>, according to Marcus & Millichap.\u00a0<\/p>\n

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\n 2040 N. Loop W. in Houston\n <\/p>\n

The Class-B office campus in Northwest Houston<\/a> was 65% occupied at the time of sale. It was originally built in 1970 and totals 219K SF throughout seven buildings at 2000-2060 N. Loop W.<\/p>\n

Houston-based Silver Star Properties filed for Chapter 11 bankruptcy protection<\/a>\u00a0in late May with the aim of reorganizing its obligations and preserving \u201ctangible and intangible assets.\u201d It had $75M in liabilities, $100M in assets and four loans in default at the time.<\/p>\n

The REIT previously filed for Chapter 11 bankruptcy<\/a> in September 2023, shortly after it launched a repositioning strategy<\/a> to sell off legacy office assets and pivot to self-storage. The Preserve was one of 29 office properties the REIT had as of December 2022<\/a>. The property, which it acquired in October 2018, was 92% occupied at the time.\u00a0<\/p>\n

The buyer of The Preserve at North Loop plans to renovate and modernize the campus while continuing operations, according to the press release. Marcus & Millchap\u2019s Keith Lloyd and Brad Mills marketed the property on behalf of Silver Star CRE and procured the buyer.<\/p>\n

\u201cThis acquisition gives the buyer immediate cash flow while providing the flexibility to modernize the property and benefit from the site’s long-term redevelopment potential,\u201d Lloyd said in a statement.\u00a0<\/p>\n

Silver Star, formerly known as Hartman Short Term Properties XX, was led by founder Allen Hartman<\/a> until October 2022. It has since been involved in public back-and-forth<\/a>, proxy contests<\/a> and legal battles<\/a>, many involving Hartman.<\/p>\n

Silver Star Properties hasn\u2019t filed an annual financial report with the Securities and Exchange Commission<\/a> since 2023, according to a search of its records. The SEC was reportedly investigating the REIT<\/a> in early 2024.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"An Atlanta-based investor bought an office campus known as The Preserve at North Loop from Silver Star CRE,…\n","protected":false},"author":3,"featured_media":924014,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5130],"tags":[372887,109214,372889,28970,4345,372888,117293,365897,109213,109216,358,3187],"class_list":["post-924013","post","type-post","status-publish","format-standard","has-post-thumbnail","category-houston","tag-al-hartman","tag-allen-hartman","tag-brad-mills","tag-chapter-11-bankruptcy","tag-houston","tag-keith-lloyd","tag-marcus-millichap","tag-northwest-houston","tag-silver-star-properties-reit","tag-silver-star-reit","tag-texas","tag-tx"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116892120415429245","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/924013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=924013"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/924013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/924014"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=924013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=924013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=924013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}