Investor Group Bags Enron Building for $55.5M

Houston’s Enron Building has fetched $55.5 million from a group of investors. The 50-story glass tower was sold via private auction on Tuesday, but the sale must still be approved by a New York federal bankruptcy court judge. The investor group is led by a Houston cardiologist, Dr. Antonio Pacifico.

Enron — which went bankrupt two years ago — leased the entire building from a consortium of banks that included J.P Morgan, one of Enron’s creditors. Proceeds from the sale of the building will be divided up among the lenders.

New York City-based Granite Partners represented the sellers.

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish