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Fifth transaction for NAI Partners’ private equity arm in past calendar year
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NAI Partners Landlord Services division to manage property
San Marcos, TX, July 9, 2018 – NAI Partners’ Investment Fund II has successfully closed on San Marcos Place, a 73,105-sq.-ft. mixed-use office-and-retail shopping center located in San Marcos, Texas, marking the first acquisition for the recently raised Fund II. The purchase of this asset marks the fifth transaction completed in 12 months by NAI Investment Fund, the private equity arm of NAI Partners.
“With San Marcos ranking as the fastest-growing city in the country for three years running, we were pleased to be able to find a value-add local asset that met our internal criteria and capitalize on the area’s rapid growth,” said Andrew Pappas, Senior Vice President, NAI Investment Fund. “Our platform is committed to investing capital through numerous aesthetic updates and hands-on asset and property management to generate value for our investors, and San Marcos Place dovetails nicely with our strategic plan.”
Andrew Pappas and Adam Hawkins of NAI Partners’ Investment Fund sourced, negotiated, and closed the transaction. NAI partnered with Peyton Jones of Green Bank for debt financing, with equity funded exclusively by NAI Investment Fund II. Cathy Nabours of HFF represented the Seller.
San Marcos Place is a four-building shopping center located directly adjacent to I-35 in San Marcos, Texas. Upon acquisition, the property is 84 percent leased to a mixed roster of national and local credit tenants, including Pizza Hut, Half-Price Books, and Nationwide Insurance.
Josh Welch of NAI Partners’ Landlord Services division will manage the property.
NAI Investment Fund II expects to deploy its remaining capital by the end of 2018, and launch Fund III in early 2019.
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. 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 industrial 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.