Houston: OrangeStone Capital closes on Westheimer Office, plans redevelopment

​​HOUSTON – OrangeStone Capital closed on 8989 Westheimer and partner Hussain Nathoo says there are plans to redevelop it within the year. 

Hussain says all sorts of uses would work on the three-acre site, and his team hasn’t decided what it wants to put there. It’ll be deciding quickly, since it aims to begin redevelopment by the end of 2016.

The team was able to close within 60 days with debt provided by Benchmark Bank’s Jason Beene. OrangeStone closed two Houston office acquisitions in November and December last year, including the adjacent 9099 Westheimer.