An Atlanta-based investor has snapped up The Preserve at North Loop, a seven-building Class-B office campus in northwest Houston, from a landlord working its way through bankruptcy. The property had been owned by Silver Star CRE, a unit of Silver Star Properties REIT, which is restructuring in court after a Chapter 11 filing in late May. The roughly 219,000-square-foot campus was about 65 percent leased when the new buyer moved in.
The campus, at 2000-2060 N. Loop W., was pitched as an income-producing asset with immediate cash flow and long-term redevelopment upside. Marcus & Millichap brokers Keith Lloyd and Brad Mills marketed the property and found the buyer, according to Bisnow.
Bankruptcy Filing And Balance Sheet
Silver Star filed a voluntary Chapter 11 petition on May 28, 2026, in the U.S. Bankruptcy Court for the Northern District of Texas. The company listed roughly $100 million in assets and about $75 million in liabilities, and disclosed four loans in default. Silver Star said the filing was intended to preserve assets and complete a previously announced strategic shift, as detailed in a Form 8-K filed with the Securities and Exchange Commission.
How The Campus Was Marketed
Marketing materials spotlighted the campus's freeway frontage, a mix of surface and covered parking, and the option to reposition the site into higher-value uses while still collecting rent in the near term. A LoopNet listing describes about 218,689 rentable square feet on roughly 12.4 acres and shows the deal as "Under Contract," according to LoopNet.
Company History And Fallout
This is not Silver Star's first trip through bankruptcy court. The REIT initially filed for Chapter 11 in September 2023 while it attempted to sell off legacy office properties and pivot into self-storage. Since then, the company has been pulled into lawsuits, proxy battles, and regulatory scrutiny tied to founder Allen Hartman and other executives, a saga chronicled by The Real Deal.
What Is Next For Tenants And The Site
Marcus & Millichap said the Atlanta buyer intends to renovate and modernize the buildings while keeping the campus operating. "This acquisition gives the buyer immediate cash flow while providing the flexibility to modernize the property and benefit from the site's long-term redevelopment potential," Lloyd said in a statement reported by Bisnow.
For now, tenants are expected to see business as usual. Longer term, the site's location near the Galleria and the Heights means a conversion to multifamily or medical uses is a realistic scenario if market conditions line up. Under court supervision, Silver Star has signaled it will keep pursuing asset sales and broader restructuring moves, according to a Form 8-K filed with the Securities and Exchange Commission.
