The acquisition is the second for Partners Capital’s Opportunity Fund 

Spring, TX, May X, 2024 – Partners Capital, the investment platform of Partners Real Estate, announced it acquired Old Town Spring Business Park, a 196,000-sq.-ft. flex industrial development consisting of four 49,000-sq.-ft. buildings located at 27323, 27335, 27247, & 27359 W Hardy Road in Spring, Texas. The property is the second property to be acquired through Partners Capital’s Opportunity Fund V.

“With its strategic location in one of Greater Houston’s top industrial submarkets, we are confident that Old Town Spring Business Park will achieve excellent returns for investors,” said Andrew Pappas, President of Partners Capital. “Situated in the well-occupied North submarket, with occupancy rates over 95%, this property offers excellent access to the West Hardy Toll Road and I-45. The building layouts are designed to attract tenants from 2,000 to 5,000 square feet and there is an opportunity to develop additional product on a vacant 1.937-acre tract.”

“This acquisition was made at an attractive yield and strong in-place occupancy that provides immediate cash flow to the Fund V portfolio,” stated Adam Hawkins, Partner – Opportunity Funds. “Additionally, there is significant upside opportunity through leasing improvements and the development of additional product on the adjacent 1.937-acre pad site.”

Partners Opportunity Fund V is Partners Capital’s latest 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. Accredited investors can invest in Opportunity Fund V, and all of Partners Capital’s current offerings directly through the Partners Finance digital investment platform.

Partners Capital financed the acquisition with Brent Reed and Peyton Jones at Veritex Community Bank.

During the last eight years, Partners Capital has sponsored seven investment funds across three investment strategies and completed more than $500 million in transaction volume. Its current portfolio comprises more than 1.4 million sq. ft. of properties located throughout Texas’ major markets. Prior to acquiring Old Town Spring Business Park, Partners Capital completed the first acquisition in Opportunity Fund V by purchasing Westcliff Shopping Center in Fort Worth, Texas.

For additional information regarding Partners Capital or new Opportunity Fund acquisition or disposition opportunities, please contact Adam Hawkins at 713.985.4604 or via email at [email protected].