Trigate Capital Purchases Northbelt Office Center II in Houston

HOUSTON — TriGate Capital has purchased Northbelt Office Center II, a two-story office building located at 785 Greens Parkway in Houston. C-III Asset Management, which took control of the property via foreclosure in April 2014, sold the office building. The property totals 124,000 square feet and is 68 percent occupied. The building is expected to be less than 50 percent occupied following a planned tenant move-out in mid-2016. TriGate has invested capital to reposition the building, including exterior and interior renovations. TriGate purchased the property without an operating partner and has hired Transwestern for third-party leasing and management services.