Oro Investments LLC acquired a 20,796-square-foot, 50-year-old building in downtown El Paso, which houses the Bank of Texas. Elizabeth Dipp Metzger, who owns Oro Investments, acquired the property at 320 Texas Ave. from her brother, George R. Dipp’s investment company PasoTex Realty LLC, for an undisclosed amount.

Bank of Texas has a 10-year lease on the building’s ground floor. The second floor is occupied by office tenants, while the third floor is vacant, and available. The property also has a 32-space underground parking garage. “Any kind of building you can buy downtown is an attractive opportunity,” Metzger told the El Paso Times.

Metzger’s company is also planning to develop an office building at 810 E. San Antonio Ave. The Dipp family is very involved with El Paso commercial real estate; Metzger is the daughter of George R. Dipp, who is part of a partnership that owns the historic Cortex office building in El Paso’s CBD.

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