Rycore Capital Nabs 155K-SF 1311 Broadfield Boulevard

Rycore Capital acquired 1311 Broadfield Boulevard, a 155,407-square-foot, Class A building on Houston’s west side. The local buyer shook hands with Lexington Realty Trust to acquire the property as a value-add play.

JLL’s Kevin McConn, Rudy Hubbard and Rick Goings led the team representing the seller. And, Matt Kafka, Cameron Cureton and Michael Johnson represented Rycore in obtaining a three-year, floating-rate acquisition loan through Crossharbor Capital Partners.

“We had tremendous interest in this property due to the value-add profile of the opportunity,” Goings said. “Investors are currently being more selective for Houston office product, and this building checked a lot of boxes for investors seeking high-quality, value-add opportunities in Houston today.”

1311 Broadfield Boulevard delivered in 2000, and is on 3.9 acres within the Park 10 Regional Business Center. The property is 66% occupied, with tenants including Saipem America Inc. and PulteGroup.

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