HOUSTON--TriGate Capital has purchased Northbelt Office Center II, located at 785 Greens Parkway in Houston.

The office building was sold by C-III Asset Management, a special servicer that took control of the property via foreclosure in April 2014. The two-story building totals 124,000 square feet and is currently 68 percent occupied by five tenants, although one tenant will vacate in mid-2016, moving occupancy to 48 percent.

"This asset is very unique in the market with a very high parking ratio, secured parking, attractive common areas, on-site security located in a deed restricted park offering large floor plates to accommodate those dense users," Michelle Wigan, executive vice president, told GlobeSt.com. "With Trigate as the new owner, the building will now be in excellent condition for tenants to take advantage of a first class environment with competitive pricing."