The two-building complex in the Bellaire submarket fits intoChase Merritt's strategy of acquiring assets in growth markets,keeping to a plan that it employed in Central Texas. "We'veexperienced success in key Texas markets already and are confidentHouston will continue to be one of the nation's preferred businesslocations," Chad Horning, president and CEO of Newport Beach,CA-based Chase Merritt, says in a press release about the deal.Representatives from Chase Merritt and Pacific Coast Capital of ElSegundo, CA could not be reached by press time.

The purchase consists of the 169,536-sf West Loop I at 6565 W.Loop South and 144,337-sf West Loop II at 6575 W. Loop South. Thebuildings are situated on 5.6 acres.

The eight-story West Loop I is 80.7% occupied while theseven-story West Loop II's occupancy is 96%. Tenants include ArgosyShipping USA LP, Rand Group LLC and Countywide Home Loans Inc. Thecity's average occupancy is 96%.