572K-SF Houston Office Portfolio Changes Hands

A family office has purchased a grouping of Houston office buildings. Commercial Edge reports the buyer, LFFP Ashford Portfolio LLC, is headed up by entrepreneur Mohammed Ali Lakhany. The deal included a three-property, 570,045-square-foot office campus in Houston’s Energy Corridor. JLL’s Marty Hogan and Kevin McConn led the Capital Markets Investment Sales and Advisory team representing the seller, a court-appointed receiver.

Accesso Partners acquired the portfolio from Falcon Southwest in August 2012. However, Accesso failed to pay off the loan in time and the buildings were sent to special servicing in 2022.

Completed from 1980 through 1982, the campus comprises Ashford 5 at 14701 St. Mary’s Lane; Ashford 6 at 1155 Dairy Ashford Road and Ashford 7 at 900 Threadneedle St.

Renovated between 2014 and 2016, the eight-story campus features a fitness center, tenant lounges and separate parking garages for each building. At the time of sale, the assets were 58 percent leased overall. 

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