Silver Star Properties REIT Secures $135M Financing For Texas Office Portfolio Transaction

The office portfolio in Texas, spanning 4.2 million square feet, owned by David Wheeler of Silver Star Properties REIT, secured $135 million in financing. The funding aims to support the sale of all 27 properties within the portfolio, which includes two industrial assets and one retail property, as Silver Star Properties REIT shifts its focus to acquiring self-storage facilities.

Summary of transaction details:

• Property Type: Office, Retail & Industrial
• Transaction Amount: $135,000,000
• Address: Office Portfolio
• Market: Texas
• Lender: Benefit Street Partners & RWBC
• Landlord: David Wheeler - Silver Star Properties REIT
• Advisor: Raymond James Financial

Raymond James Financial served as the advisor for Silver Star Properties REIT in the financing deal, which included a $120 million floating-rate senior loan from Benefit Street Partners and a $15 million co-terminus second mortgage loan from RWBC. As part of this restructuring, Silver Star Properties REIT has already completed the sale of the Bent Treen Green office building in North Dallas.