Interra Capital Group acquired the Greenway Plaza office complex in Houston out of receivership, according to public records released on Apr. 10. The sale price was not disclosed, but the property previously sold for $950 million in 2013.
The acquisition highlights ongoing changes in Houston’s commercial real estate market, which has seen significant challenges with high vacancy rates and ownership turnover since the pandemic.
Greenway Plaza is a 54-acre mixed-use campus at Buffalo Speedway and I-69, between Downtown Houston and The Galleria. The development consists of 11 buildings with a total of 4.9 million square feet of office space. Amenities include The HUB food hall, a hair salon, daycare facility, and Lifetime Fitness gym. Interra called it “one of the largest infill mixed-use business campuses in the country” and said CBRE will handle leasing for the property.
According to Lincoln Property Management’s leasing information, about 1.45 million square feet remain vacant at Greenway Plaza, putting occupancy at roughly 70 percent. Major tenants include Occidental Petroleum, Boardwalk Pipelines, Pilot Flying J, and Avelo Airlines.
The previous owners—a joint venture between Canada Pension Plan Investment Board, Silverpeak Real Estate Partners and Nuveen Real Estate—lost control after defaulting on a $465 million loan backed by commercial mortgage-backed securities. Court-appointed receiver Trigild took over management in 2023 before listing it for sale last year following financial difficulties reported by Moody’s Investors Services.
This purchase follows Interra’s acquisition of another landmark property—the Niels and Mellie Esperson buildings—in downtown Houston last year. Despite struggles across the city’s office sector post-pandemic, Colliers reported that Houston saw its first annual absorption gain since 2019 with positive net absorption totaling more than 700,000 square feet in 2025.
Other major properties have faced similar challenges: lenders recently took control of Houston Center from Brookfield Properties while Woodside acquired Heron Lakes after years under special servicing.
