Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Clear Lake Sale is Ideal Exit Opportunity, Return for Partner’s Fund II Investors
Partners Capital recently sold Clear Lake Business Center, a 149,305-square-foot flex park in Webster, TX. Partners Capital originally acquired the property in February 2019 through its Fund II investment vehicle. The price was undisclosed.
“As a result of our hands-on ownership program and deliberate focus on enhancing the tenants’ overall experience, we substantially improved the cashflow and occupancy at Clear Lake,” said Andrew Pappas, managing director of Partners Capital and Partner, Partners Real Estate Company. “This represented an ideal exit opportunity and return for our Fund II investors.”
Partners Capital was represented by Cary Latham and Josh Lass-Sughrue of NAI Partners, the real estate services business of Partners Real Estate Company.
The sale comes on the heels of a busy stretch for Partners Capital, which has acquired Bay Pointe Shopping Center and Silverlake Business Park via its Fund IV in the past month.
- ◦Sale/Acquisition
