Silver Star Sells The Preserve as it Battles Chapter 11

Silver Star CRE offloaded a Class-B office campus with seven buildings in Houston to an unknown buyer as it goes through Chapter 11 bankruptcy proceedings.

The office campus sat at about 65 percent occupied when it was sold. The buildings at 2000-2060 North Loop West in Houston span around 219,000 square feet. The office park is called The Preserve at North Loop, and features access to Loop 610, I-45 and Hwy 290. It’s surrounded by a natural wooded space, and features tons of natural light and a gazebo next to 2030 North Loop West. Silver Star acquired the building in 2018, when it was 92 percent occupied, according to Bisnow.

An unknown Atlanta-based investor bought the seven building office park, according to the outlet. The buyer plans to modernize the park while operations continue. Keith Lloyd and Brad Mills of Marcus & Millchap marketed the property for Silver Star.

Silver Star CRE is a subsidiary of Silver Star real estate investment trust, which filed for Chapter 11 bankruptcy in May, following announcements that it would be selling off parts of its office space portfolio and pivot into self-storage properties. Reportedly, Silver Star had $75 million in liabilities and four loans in default at the time. It’s the second time Silver Star has entered Chapter 11 bankruptcy proceedings. The first time was amidst a whirlwind of sound and fury between former CEO Allen Hartman and current CEO Gerald Haddock. Fallout from the public spat is still affecting the REIT.

In an April 2026 shareholder update, Silver Star called the pivoting process “arduous,” and said that they would be selling all of its remaining legacy assets, which includes The Preserve at North Loop, One Technology Center, 601 Sawyer Street and a smattering of Walgreens properties.

According to the publication, the REIT hasn’t filed an annual financial report with the Securities and Exchange Commission since 2023, and was possibly under investigation by the agency in 2024 according to prior reports. With a combination of refinancing certain properties and selling off the remaining assets, the firm believes it will have its debt paid off and pending litigation settled.

— Hunter Cooke