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Flex property is third asset in Partners Capital’s Fund IV portfolio
Houston, TX, January 4, 2022 – Partners Capital—the investment management platform and development arm of Partners Real Estate Company—announced that it has acquired Silverlake Business Park, a five-building, 90,000-sq.-ft. flex office/warehouse park located at 2837 Miller Ranch Road in Pearland, Texas.
Silverlake Business Park is the third acquisition made by Partners Capital’s Fund IV investment vehicle.
“We’re excited to add an asset like Silverlake Business Park to the portfolio,” said Andrew Pappas, Managing Director of Partners Capital and Partner, Partners Real Estate Company. “Silverlake holds significant appeal as one of the few office/warehouse options in Pearland, and it’s a strong, cash-flowing asset that will provide our investors upside through Partners Capital’s enhanced management and leasing capabilities.”
“This off-market deal was attractive for several reasons, most notably the barriers to entry for flex product in Pearland. The high demand for Pearland flex coupled with our team’s ability to implement institutional-grade management makes this an exciting acquisition for Fund IV investors,” said Adam Hawkins, Vice President, Partners Capital.
Partners Capital worked with Wes Cole at Cantera Real Estate Group to source the deal off-market. The seller—original developer WC Properties, Ltd.—represented itself. Financing was provided by Peyton Jones at Veritex Bank in Houston, Texas.
Partners Capital has completed over $140 million in transactions in 2021, and more than $300 million in transaction volume during the last five years. Its current portfolio comprises more than 1 million sq. ft. of retail, industrial, and office properties.
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 [email protected].
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.