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Third transaction in 60 days for NAI Partners’ Investment Fund
Katy, TX, August 30, 2018 – NAI Partners’ Investment Fund has added a third asset to its recently raised Fund II — Royal Montreal Plaza, a 40,300-sq.-ft. neighborhood retail center located in Katy, Texas.
Royal Montreal Plaza is a two-building neighborhood retail center with a development pad located on South Mason Road in Katy. The asset is 97% occupied by a mix of regional and local service-oriented tenants. NAI plans to significantly improve the asset’s aesthetics and enhance the overall tenant experience through its hands-on management approach.
“This property pairs nicely with Fund II’s overall portfolio and we are confident in our ability to generate short and long-term value for our investors. With a strong roster of service-oriented tenants, Royal Montreal Plaza provides our investors insulation to near-term ecommerce rollover risk.” said Andrew Pappas, Senior Vice President of NAI Investment Fund. “Additionally, the development pad located on the property represents one of the last available development sites on South Mason Road.”
In the past twelve months, NAI’s real estate investment arm has purchased six assets, successfully exited an investment, and raised a second fund. “It has been an excellent year thus far for our platform, and we are far from finished. By the end of 2018, we expect to close on at least one more acquisition and two more dispositions, along with initiating fundraising for Fund III,” Pappas said.
Andrew Pappas and Adam Hawkins of NAI Partners’ Investment Fund negotiated and closed the deal. NAI partnered with Peyton Jones of Green Bank for debt financing, with equity funded exclusively by NAI Investment Fund II. The seller was represented by Todd Carlson of Hunington Properties.
Josh Welch of NAI Partners’ Landlord Services division will manage the property, with NAI Partners’ Jason Gaines and Shaffer Braun leading the project’s leasing efforts.
With this acquisition, the NAI Investment Fund surpasses $50 million in real estate owned and expects to have $70 million in real estate owned by the close of 2018. Earlier this month, NAI Investment Fund II purchased Wells Fargo Business Park, a flex-office park located in north Houston. In late June, Fund II closed on its first acquisition, San Marcos Place, a mixed-use shopping center in San Marcos, Texas. Fund III is expected to kick-off in October. For additional information regarding the NAI Investment Fund platform, please contact Andrew Pappas at 713.629.0500.
About NAI Partners
Houston | Austin | San Antonio
NAI Partners is the 5th-largest Houston-Area Commercial Real Estate Brokerage, the #1 Mover of Square Feet among leasing and sales brokerages, the largest independently owned and among the largest owner-operated commercial real estate firms in Houston, Texas, per The Houston Business Journal. NAI Partners was founded and is headquartered in Houston and has offices in San Antonio and Austin; offers the geographic expertise to complete real estate transactions throughout the state of Texas; and can leverage the power of the NAI Global network to arrange deals in any location throughout the world. NAI Partners employs more than 100 real estate professionals, and arranges more transactions than any of its competitors, completing over 500 commercial lease and sale arrangements every year. NAI Partners is a full-service firm offering client leasing and sales solutions in the areas of office tenant representation, office landlord representation, industrial tenant representation, industrial landlord representation, landlord services, retail services, property management, investment sales, an investment fund, and project management, among other services. The company has been named a Best Place to Work by both the Houston Chronicle and Houston Business Journal, and is among the University of Houston’s Cougar 100 Fastest-Growing Companies.
Commercial real estate in Houston, Austin and San Antonio. NAI Partners offers full-service commercial real estate solutions to Houston, Austin and San Antonio, and has been serving the Houston commercial real estate needs of its clients for more than 20 years. We specialize in finding office space, industrial space and retail space, and can arrange an office lease, industrial lease or retail lease for your company. Our brokers help tenants and landlords or property owners of any size find the perfect real estate space or location for their business needs. For more information, contact us today.