Headquarters
Stanford was headquartered in the Galleria Tower II in Uptown Houston, Texas, U.S. Previously the company was headquartered in 5050 Westheimer Road, a three story, 71,000 square feet (6,600 m2) building across from The Galleria. Jennifer Dawson of the Houston Business Journal described the facility as "high-end office digs." By 2007 Stanford's headquarters moved to Galleria Tower II.
On May 18, 2010 the receiver entered into a stalking horse contract for the sale of 5050 Westheimer Road. During that month Black Forest Ventures LLC was the designated bidder to defeat at the auction, with a minimum bid being $12.5 million. The auction was scheduled to be held on Thursday June 24, 2010 at the offices of Baker Botts, L.L.P. in One Shell Plaza in Downtown Houston. The auction was canceled due to a lack of bids, and Black Forest's stipulated that it would acquire the building for $12.2 million. Black Forest bought the 5050 Westheimer building in July 2010.
Read more about this topic: Stanford Financial Group
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