Partners Capital sells Clear Lake Business Center in Webster, Texas
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Flex park originally purchased in 2019 via Partners Capital’s Fund II
Houston, TX, January 21, 2022 – Partners Capital—the investment management platform and development arm of Partners Real Estate Company—today announced that it has sold Clear Lake Business Center, a 149,305-sq.-ft. flex park in Webster, TX. Partners Capital originally acquired the property in February 2019 through its Fund II investment vehicle.
The sale comes on the heels of a busy stretch for Partners Capital, which over the past month has acquired Bay Pointe Shopping Center and Silverlake Business Park via its Fund IV.
“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.
In 2021, Partners Capital completed over $155 million in transactions and has over $330 million in transaction volume during the last five years. Its current portfolio comprises more than 1 million sq. ft. of retail, industrial, and office properties.
For additional information regarding Partners Capital, please contact Andrew Pappas at 713.629.0500. For new Partners Capital acquisition or disposition opportunities, please contact Adam Hawkins at 713.985.4604 or via email at adam.hawkins@partnersrec.com.
About Partners Capital
Partners Capital is Partners Real Estate Company’s investment platform specializing in the acquisition and disposition of office, industrial, and retail multitenant properties via multiple investment funds, and the development of retail, industrial, office, and mixed-use projects. The company’s investment management platform seeks quality real estate with intrinsic value which would benefit from well-capitalized, sophisticated, hands-on, tenant-focused ownership that truly understands the asset; and targets markets with diverse marketplaces which allow its team to assemble portfolios that provide overall risk diversification for its investors. The development platform develops and manages projects of all sizes and complexity, and provide full-cycle, end-to-end project expertise and seamless execution on site selection, land acquisition, entitlements, planning and design, financing, governmental relations, and construction management. Targeted geographic areas include Houston, Austin, San Antonio, and Dallas/Fort Worth, along with other attractive markets in the southwestern United States. Visit us on the web at www.partnersrec.com.