The 419,671-square-foot Three Westlake Park office building in Houston has been sold for $21 million and is slated for conversion to apartments, marking the first such conversion in the West Houston market. The 19-story building, at 550 Westlake Park Blvd., had served as collateral for a CMBS loan that had an original balance of $80 million. Its buyer is a local investor who has purchased at least two other near-vacant office buildings in recent years.

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