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Sale marks first disposition for Partners Capital’s Fund III
Houston, TX, October 18, 2021 – Partners Capital—the investment platform of Partners Real Estate Company—today announced that it has sold Point West Business Park. The sale of the 145,915-sq.-ft. flex property comes on the heels of the company’s disposition of Wells Fargo Business Park in north Houston, and its acquisition of Oak Hill Plaza in Austin, Texas.
Partners Capital originally acquired the three-building, one-story Point West Business Park in 2019 through its Fund III investment vehicle.
“We are very proud of the performance of Point West Business Park and the returns it generated for Fund III investors,” said Andrew Pappas, Managing Director of Partners Capital and Partner, Partners Real Estate Company. “The property’s location coupled with our capital improvements generated a high level of leasing interest, and we were able to selectively improve our tenant base. Our leasing team completed more than 25,000 sq. ft. in new leasing transactions and positively impacted more than 25% of the rent roll during our ownership period.”
Added Mr. Pappas, “This is an excellent first exit for Fund III, and we are optimistic about the future performance of the portfolio.”
Partners Capital was represented by Cary Latham, Wyatt Huff and Josh Lass-Sughrue of NAI Partners, the real estate services business of Partners Real Estate Company. The buyer was PHP Capital Partners out of Fort Worth.
Partners Capital owns a real estate portfolio totaling more than 1.1 million sq. ft. and has completed more than $260 million in transaction volume.
For additional information regarding Partners Capital and Fund IV, please contact Andrew Pappas at 713.629.0500. For new Partners Capital acquisition or disposition opportunities, please contact Adam Hawkins at 713.985.4604 or via email at firstname.lastname@example.org.
About Partners Capital
Partners Capital is Partners Real Estate Company’s investment platform specializing in the acquisition and disposition of office, industrial, and retail multitenant properties via multiple investment funds, and the development of retail, industrial, office, and mixed-use projects. The company’s investment management platform seeks quality real estate with intrinsic value which would benefit from well-capitalized, sophisticated, hands-on, tenant-focused ownership that truly understands the asset; and targets markets with diverse marketplaces which allow its team to assemble portfolios that provide overall risk diversification for its investors. The development platform develops and manages projects of all sizes and complexity, and provide full-cycle, end-to-end project expertise and seamless execution on site selection, land acquisition, entitlements, planning and design, financing, governmental relations, and construction management. Targeted geographic areas include Houston, Austin, San Antonio, and Dallas/Fort Worth, along with other attractive markets in the southwestern United States. Visit us on the web at www.partnersrec.com.