Partners Capital Buys 12-Building Houston Business Park
Partners Capital, the investment arm of Partners Real Estate, has acquired Mitchelldale Business Park. The 12-building, 377,752 square foot industrial flex portfolio was built in 1977 and was purchased by what is now, Silver Star Properties in 2014. It’s located at 5400 Mitchelldale Street in Houston. The property was acquired through Partners Investment Fund IV (PIF IV). The property is currently 95% leased and has a wide range of tenants partially due to its after-hours controlled access, live 24-hour surveillance, and ample surface parking. Partners says it will start a rehab effort right away. Financing was provided by Origin Bank.
Partners kicked off the PIF IV in December 2020 with the intent to raise $50 million in order to continue identifying and acquiring high-quality office, industrial and retail assets in attractive markets.