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Partners Capital Divests First San Antonio Asset
Partners Capital, the investment arm of NAI Partners, has sold Marymont Office Park, a four-building, 85,368-square-foot office property in northeast San Antonio, Partners Capital’s Fund I originally acquired Marymont in 2017.
“This deal was a successful first step into San Antonio for us, and we look forward to investing in this city for years to come,” said Andrew Pappas, head of Partners Capital and partner, NAI Partners.
Partners Capital was represented by Carrie Caesar of Cushman & Wakefield on the transaction. The buyer was Houston-based Citadel Venture Holdings.
“As a result of COVID-19 many office investors are seeking assets that offer fewer points of contact and shared spaces,” said Caesar. “Because Marymont Park is a single-story building offering private entrances, there was a significant amount of competition. Additionally, the property was recently refreshed by Partners Capital and it offered an opportunity for the buyer to add further value.”
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- ◦Sale/Acquisition
