NAI Partners Investment Fund made its first foray into San Antonio, purchasing the 85,368-square-foot Marymont Office Park from RLA Marymont and DKJ Development. The office building is in the metro’s northeast quadrant, at 2391 N.E. Loop 410. Andrew Pappas and Adam Hawkins of NAI Investment Fund negotiated with the seller’s representative, Carrie Caesar with Cushman & Wakefield.
The four-building Marymont Park is 87% leased to healthcare tenants, government agencies, non-profits and small businesses. The NAI Investment Fund is allocating capital toward infrastructure and aesthetic improvements. Josh Welch of NAI Partners will manage the building, with leasing handled by Clare Flesher and Mitchell Lyons of NAI Partners’ San Antonio office.
The fund, which launched in late 2015 and will be 100% deployed by Nov. 1, 2017, also acquired the 61,165 11301 Fallbrook Dr., a medical office building in northwest Houston. Pappas said the fund is acquiring value-add office industrial and retail properties that are mismanaged or undercapitalized.
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