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GlobeSt.com UPDATE: Enron Passes HQ Building Reins

HOUSTON-As planned, a group of investors turn over the $55.5-million check for the deed to the "tilted E's" longtime 1.3-million-sf headquarters at 1400 Smith St. Documents show Enron will be assessed $15,616 per day in rent for 671,908 sf through March 31.

By Jennifer Brenner Andrade | Updated on December 17, 2003

HOUSTON-As planned, the deed to the 1.3-million-sf Enron headquarters at 1400 Smith St. yesterday was turned over to a group of investors led by local cardiologist, Dr. Antonio Pacifico, an Enron spokesman confirmed. The group paid $55.5 million for the CBD property.

The US Bankruptcy Court for the Southern District of New York approved the sale Dec. 6, two days after it was auctioned, and set a Dec. 16 deadline for the closing. Court documents show the buyer was required to put 20% of the final price or $11.1 million on the line before the closing. The auction kicked off with a $50-million minimum ask and a required $3-million down payment once the winner was determined.

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