JV PURCHASES WESTCHASE CORPORATE PARK FOR $9.8M

HOUSTON — AF Westchase LLC, a joint venture between Adler Real Estate Fund and TriGate Capital, has purchased Westchase Corporate Park, a 177,000-square-foot flex park consisting of 13 buildings at 11201-11331 Richmond Ave. in Houston, for $9.8 million from PS Business Parks. Westchase Corporate Park is 85 percent occupied with tenants like Honeywell, Western Geophysical, Men’s Wearhouse, MI Swaco, BMC Software, American Express, GE Capital and JP Morgan Chase. CB Richard Ellis brokered the sale on behalf of PS Business Parks. Miami-based Adler Group manages AF Westchase.