Disposition marks the last remaining property of Partners Capital’s Fund I portfolio.
Houston, TX, September 1, 2022 – Partners Capital—the investment and development platform of Partners Real Estate Company—today announced that it has sold its Steeplechase Professional Building, a 61,165-sq.-ft. medical office building located at 11301 Fallbrook Drive in Northwest Houston. Partners Capital originally acquired the property in August 2017 through its Fund I investment vehicle.
Earlier this year, Partners Capital acquired the Boerne Gateway Office building in Boerne, Texas via Partners Fund IV – the fifth asset in its portfolio and sold Royal Montreal Center in Katy, Texas – an asset acquired in 2018 through Partners Fund II.
“We are thrilled to successfully wind down Fund I with the sale of Steeplechase Professional Building and generate additional value for our investors” said Andrew Pappas, President of Partners Capital and Partner, Partners Real Estate Company.
Partners Capital was represented by Cary Latham of NAI Partners, the real estate services business of Partners Real Estate Company.
Partners Capital has completed over $355 million in transaction volume 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 adam.hawkins@partnersrec.com.
About Partners Real Estate Company
Partners Real Estate Company (“Partners”) is the holding company of real estate investment and development platform Partners Capital and commercial real estate services firm NAI Partners. Partners is a diversified investment, development, and services firm that creates tangible value for its investors, clients, and internal stakeholders using commercial real estate as the vehicle. Partners was founded and is headquartered in Houston, Texas, and owns, develops, leases, manages, and valuates commercial real estate in multiple geographical areas throughout the United States. Visit us on the web at www.partnersrec.com.
About Partners Capital
Partners Capital is Partners Real Estate Company’s investment and development 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, 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.
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