Equus Affiliate Acquires 757K SF Industrial Portfolio
An Equus affiliate recently completed the acquisition of a 757,325-square-foot class-A industrial portfolio in Houston. The acquisition was made on behalf of Equus Investment Partnership XI LP, a fully discretionary value-add equity fund managed by Equus Capital Partners Ltd. The complex was 62 percent leased at the time of acquisition to 11 tenants.
The portfolio is comprised of five industrial buildings totaling 757,325 square feet. The buildings were constructed between 2008 and 2014, and offer multiple types of buildings. The three shallow bay rear-load buildings cater to the business-to-business or business-to-consumer user while the other two buildings in the complex offer traditional cross-dock warehouse distribution space. In addition to repositioning efforts, the property will be rebranded as Park 845 Crossing.
“Park 845 Crossing is a strategically located infill industrial portfolio in one of the most dynamic growth markets in the country. The operational and capital improvement plan to be executed will enable the portfolio to capitalize on the continued demand in the Houston industrial market,” says Kyle Turner, principal-director of investments of Equus, who along with Scott Miller and Phil Vecchiolli of Equus, oversaw the acquisition for the firm.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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