Tall & Urban News

The historic Esperson buildings,  the 31-story Niels Esperson Building, built in 1927 at 808 Travis Street, and the 19-story Mellie Esperson Building, completed in 1941 at 815 Walker Street were acquired in a foreclosure sale on Tuesday, August 6, 2024. The buildings, known for their Italian Renaissance architecture, were foreclosed by the lender MetLife after being owned by an affiliate of Houston-based Cameron Management for over a decade.

Located in Downtown Houston, the the buildings are bounded by Walker, Rusk, Travis, and Milam streets. The real estate market’s current distress, marked by rising vacancies and declining property values, led to the foreclosure. The Esperson buildings were previously marketed for sale in 2020/2021 with an unofficial asking price of US $65 million. However, due to the post-COVID downturn, Interra Capital Group, the buyers in the foreclosure sale, acquired the property for a significantly lower price. The final financial terms have note been disclosed.

Interra Capital has retained Cameron Management to manage the property during the transition. 

As vital city landmarks, the properties spans over  600,000 square feet (55,742 square meters) and are renowned for its intricate terracotta detailing, dramatic columns, and stunning cornices. The buildings were constructed in the early 20th century by Mellie Esperson for her husband Niels, a real estate and oil tycoon. The Esperson buildings have been a focal point of Houston’s skyline, offering a blend of office spaces and commercial venues, including tunnel space for retail.

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