Houston-based Interra Capital Group has taken control of Greenway Plaza, the 53-acre office campus inside the 610 Loop that anchors the Greenway and Upper Kirby area. The new owner is signaling a back-to-basics plan: focus on leasing and repositioning a complex that has been lagging for years. The roughly 4.5 million square feet of office and retail space stretches along Interstate 69 between River Oaks and Uptown, and the sale follows a rocky financial stretch for the property that now turns into a very local bet on stabilizing one of Houston’s biggest office plays.
Deal details and buyer plans
According to the Houston Business Journal, Interra Capital Group closed the acquisition on April 10, 2026, with the purchase price kept under wraps. Property listings show the campus spanning roughly 52 to 53 acres and approaching five million square feet in total, per LoopNet. Interra told the Houston Business Journal it intends to prioritize leasing and repositioning in order to attract larger corporate tenants and bolster on-site services.
Years of distress left campus for sale
The sale comes on the heels of a long, public bout of distress. The joint venture that previously owned Greenway Plaza defaulted on a $465 million CMBS loan, and a court-appointed receiver stepped in to market the property. The 10-building campus, often described at about 4.5 million square feet, was officially taken to market by that receiver. Bisnow reported that Cushman & Wakefield was brought in for leasing while Lincoln Property Co. was tapped to handle operations as the asset was shopped. Appraisals and remittance filings in 2023 showed the complex’s market value had dropped sharply, a decline detailed by The Real Deal, which left prior owners with limited refinancing options.
Interra's Houston track record
Interra has not been a stranger to Houston’s office scene. The Houston Business Journal reported that the firm acquired Remington Square in late 2024, adding to a growing local portfolio. That pattern of targeting regional office properties suggests Interra will lean on local leasing teams and targeted capital programs to stabilize cash flow at Greenway Plaza. Industry sources say that existing experience with similar buildings could help the firm move faster on underwriting turnaround plans and pursuing mid to large lease blocks.
What comes next for tenants and neighborhood
For the shops, restaurants and service providers that count on weekday office crowds, this sale could eventually offer some badly needed stability, provided leasing traction follows. Bisnow reported that occupancy at the campus had been hovering around two-thirds and noted that major tenants, including Occidental Petroleum, control very large blocks of space. Any real comeback will require backfilling those sizable chunks. Local brokers say that kind of recovery will likely take months and depend on a blend of incentives, visible capital upgrades and carefully structured lease terms.
Legal and financial background
The property’s troubles trace back to how the debt was structured and timed. A loan issued in 2017 reached maturity while the borrowers remained under forbearance, and special-servicer filings showed the campus’s market value sitting well below the outstanding loan balance. That valuation gap, along with related remittance records laid out by The Real Deal, complicated any attempt to refinance and ultimately helped push the asset into receivership. Although the sale hands ownership to a Houston operator, observers note that servicing and lender settlement work can continue in the background even as Interra moves ahead with leasing and repositioning efforts.
Interra’s purchase places one of Houston’s largest office campuses firmly in the hands of a local firm with a track record of working on troubled assets. How quickly Greenway Plaza finds its footing again will hinge on new lease deals, focused capital improvements and the broader health of Houston’s office market. Tenants, brokers and nearby businesses will be watching closely for leasing announcements and visible upgrades in the coming months.
