Nauru lands American dream with Houston office building

​HOUSTON – Grandbridge Real Estate Capital has secured a $6.2 million bridge loan for a Houston-area office building.

A sovereign wealth fund operated by the Republic of Nauru owns the property.

A direct small-balance commercial real estate lender provided the two-year loan to the Nauru Phosphate Royalties Trust, a subsidiary of Nauru Realty Trust.

With just under 10,000 inhabitants, Nauru is the world’s smallest island nation. Its government developed the Nauru Phosphate Royalties Trust to invest proceeds from a state-owned mining company.

The Jacobs office building is located at 2224 Bay Area Blvd. at the hard corner of Bay Area Blvd. and Space Center Blvd. in the Clear Lake area of Houston. 

The loan facilitated by Lipkin provides a short-term financing solution for the Houston office building, which is occupied by Jacobs Technology, a wholly owned subsidiary of publicly traded NASA contractor Jacobs Engineering Group.

Jacobs provides technical, professional and construction services to various industrial, commercial and governmental clients.