Galleria office building headed to auction after $13M default

The Real Deal

A foreclosure auction has been scheduled for a Class-B Houston office building, spotlighting the growing wave of distress in the Bayou City. Starwood Mortgage Capital has initiated foreclosure proceedings on the eight-story, 130,000-square-foot Spectrum Office Building at 5858 Westheimer Road in Houston's Galleria area, Bisnow reported.