Bank of America has a lease expiring at 2 King Edward Street in 2032.
Interra Capital Group acquired the Esperson buildings in Downtown Houston after MetLife foreclosed on the property due to a $41M loan default.
Lenders began foreclosure proceedings against the 760K SF office tower last spring, alleging that RXR had defaulted on its $315M mortgage.
The owner has a $77.9M balance on the loan it took out to acquire the office building in 2023.
The tenant has expanded its offices in two other West Coast cities in the last six months.
The accounting and consulting firm has agreed to take almost three quarters of the development, which Related is expected to break ground on in June.
The Katan Group is considering an office-to-residential conversion at the property.
The country's largest bank, with 300,000 global employees, is expected to make the formal announcement in the weeks to come.
AllianceBernstein cast the sole bid for the vacant office building property in a foreclosure auction at Alex Cooper Auctioneers Thursday morning.
The pair of developers seek upward of $4.8B in federal loans to build one of the tallest skyscrapers in the Western Hemisphere.
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