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Sale marks second disposition for Partners Capital’s Fund III
Houston, TX, November 17, 2021 – Partners Capital—the investment management platform and development arm of Partners Real Estate Company—announced that it has sold Commerce Center, a 16-building, 245,495-sq.-ft. single-story flex industrial park on 14.56 acres located in Stafford, TX. The sale comes on the heels of Partners Capital’s disposition of Point West Business Park last month.
Partners Capital originally acquired the property previously known as Avera Commerce Center in May 2020 through its Fund III investment vehicle.
“We are so proud of the Commerce Center story and the results the Partners Capital team were able to deliver to our Fund III investors in a short period of time,” said Andrew Pappas, Managing Director of Partners Capital and Partner, Partners Real Estate Company. “In less than 18 months we were able to fully execute a challenging asset improvement playbook—including implementing renovations throughout the property and significantly increasing occupancy—and cement Commerce Center as a keystone deal for Partners Capital.”
Partners Capital was represented by Trent Agnew and Charlie Strauss at JLL. The buyer was Rising Realty Partners from Los Angeles, California.
Partners Capital has completed over $133 million in transactions in 2021, and $300 million in transaction volume during the last five years. Its portfolio comprises more than 1 million sq. ft. of commercial 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.