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Acquisition marks the sixth asset in Partners’ Fund IV portfolio
Houston, TX, September 16, 2022 – Partners today announced that it has purchased a 53,500-sq.-ft. flex industrial property located at 10849-10899 Kinghurst Drive in Houston, Texas. The property was acquired through Partners’ Fund IV investment vehicle.
The two-building property is in Southwest Houston, is currently 100% leased, and has maintained strong occupancy over the last decade.
“The asset’s vicinity to two of Houston’s major thoroughfares gives it a distinct advantage in the marketplace, demonstrated by its strong historical occupancy. The Kinghurst acquisition provides Fund IV investors with high-yields and excellent upside potential. The asset is a great fit for the Fund IV portfolio,” said Adam Hawkins, Partner at Partners Capital.
The transaction was handled off-market with financing provided by Brent Reed at Veritex Bank. Partners Capital was represented by Jason Scholtz of Colliers.
Partners Capital has completed over $400 million in transaction volume since inception, and its current portfolio comprises more than 1 million sq. ft. of retail, industrial, and office properties.
For additional information regarding Partners Capital, 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 [email protected]
Partners is the 2nd-largest partner-operated, privately-held and independently-owned commercial real estate firm in the state of Texas. Partners was founded and is headquartered in Houston and has offices in San Antonio, Austin and Dallas; employs more than 200 real estate professionals; and arranges more transactions than any of its competitors, completing over 700 commercial lease and sale arrangements every year. Partners is a full-service commercial real estate firm providing client solutions via its services business for Office, Industrial, Retail, Land, Life Sciences, and Multifamily product types across Brokerage Services, which includes Tenant Representation, Investment Sales, and Land Sales; Investor Services, which includes Property Management, Project Leasing, Project Management, and Facilities Management; Valuation Services, which includes Valuation & Advisory, Litigation & Expert Witness Testimony, Property Tax Consulting, and Institutional Fund Valuation; and Project Services, which includes Construction Management and Space Management; and creating value for its investors through its Private Equity line of business, which includes its investment management 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. Partners is the top Houston-based full-service commercial real estate firm on the Inc. 5000 list of fastest-growing private companies in America; the 4th-largest Houston-Area Commercial Real Estate Brokerage, #1 Mover of Square Feet among leasing and sales brokerages, and largest partner-operated, privately-held and independently-owned commercial real estate firm in Houston per the Houston Business Journal; the only commercial real estate firm on the Houston Business Journal’s Mid-Market 50 list; a top 3 largest San Antonio Commercial Real Estate Brokerage per the San Antonio Business Journal; and a top 20 Property Management Firm by square feet under management in Houston per the Houston Business Journal. Partners has been named a Best Place to Work by the Houston Chronicle, Houston Business Journal and Austin Business Journal; and is among the University of Houston’s Cougar 100 Fastest-Growing Companies. Visit us on the web at www.partnersrealestate.com