Houston, TX, July 29, 2025 – Partners Capital, the investment platform of Partners Real Estate (“Partners”), today announced the acquisition of the HTX Service Center Portfolio. Comprised of three business parks—Lakes at 610 Service Center, Willowbend Service Center, and Wilcrest Green Service Center, the portfolio totals 228,597 sq. ft. of hyper infill flex and light industrial space in Houston, Texas. The 14-acre, five-building portfolio is currently 68.5% occupied and represents the sixth, seventh and eighth properties to be acquired through Partners Capital’s Opportunity Fund V investment vehicle.
“We often talk about doing business where we invest and investing where we do business, and this off-market transaction for a well-located infill portfolio in our backyard in Houston underlines that ethos,” said Andrew Pappas, Partner and President of Partners Capital. “These properties are well-positioned for Partners Capital’s strategic asset management approach, allowing us to unlock significant value and further solidify our commitment to maximizing returns for our investors.”
The HTX Service Center Portfolio presents notable upside potential attainable through prudent hands-on ownership. At only 4,500 sq. ft., the small average suite size is conducive to the effective execution of a mark-to-market strategy. In addition, new leases will be inked under, and existing tenancy converted to, triple net lease structures which will mitigate income erosion due to operating expense exposure risk. The largest boost to the portfolio’s economics will come from leasing existing vacancies which will be augmented by an aggressive and well-capitalized spec suite program.
“This is the quintessential Partners Capital acquisition. The opportunity was sourced off-market through years of disciplined outreach and relationship building. While all unique, we have exciting plans for each of the three properties and I am eager to watch our team execute the business plan we so thoughtfully curated”, said Jack Nini, Vice President of Industrial Acquisitions. “These are great buildings that equally balance function, location and build quality and we are thrilled to get to work on unlocking their true potential”.
Brent Reed at Veritex Community Bank financed the acquisition. Michael Martin of Avison Young represented Partners Capital in the transaction.
This acquisition adds to an already busy year for Partners Capital, which also announced the acquisitions of Kessler Hills Shopping Center in Dallas in May; the Courtyard by Marriott Atlanta Buckhead in March; and Dixie Farm Business Park in Southeast Houston in January.
Opportunity Fund V is Partners Capital’s current value-add fund focused on identifying and acquiring high-quality industrial, retail, and office assets in the major markets across Texas and the southeastern United States.
During the last eight years, Partners Capital has sponsored seven investment funds across three investment strategies and completed more than $650 million in transactions. Its current portfolio includes more than 1.4 million sq. ft. of properties throughout major markets in Texas and the Southeast.
Accredited investors can invest in Opportunity Fund V, and all of Partners Capital’s current offerings directly through the Partners Finance digital investment platform at https://precfinance.com/.
For additional information regarding Partners Capital or the Opportunity Fund platform, please contact Andrew Pappas at (713) 629-0500.
