Grandbridge Arranges $7.8M in Refinancing for Office Property in Houston

HOUSTON — Grandbridge Real Estate Capital has arranged $7.8 million in refinancing for a 138,633-square-foot office building located at 2224 Bay Area Blvd. in the Clearlake area of Houston. Adam Lipkin of Grandbridge arranged the refinancing for the six-story property on behalf of a sovereign wealth fund operated by the Republic of Nauru, a South Pacific island nation. The property is primarily leased to a subsidiary of Jacobs Engineering Group, a publicly traded NASA contractor.