Dallas-based private firm of Stonelake Capital Partners has assembled an out sized Texas industrial portfolio with associate calculable price of $200 million, with plans to carry the properties for consequent 3 to 5 years.
The 35-building, 3.1 million-square-foot portfolio in city, Houston and San Antonio was assembled through eleven separate transactions over the past eighteen months. This portfolio are the ultimate investment for Stonelake's fund, Stonelake chance Partners III phonograph record.
Earlier this year, Stonelake closed its next fund, Stonelake chance Partners IV phonograph record, with the assistance of $262 million in equity commitments. The city firm plans to still acquire industrial building starting from fifty,000 sq. feet to a hundred and fifty,000 sq. feet — one thing they've gravitated to within the past— in fund IV.
Stonelake nonheritable the portfolio while not associate in operation partner and plans to manage the portfolio in-house to spice up the buildings' occupancy and rental rates within the next few years till the firm is prepared to sell.
In Houston, Stonelake has quite one million sq. feet of business house within the northwest, geographic region and south Loop sub markets. Elsewhere, the portfolio includes nearly one.3 million sq. feet in Dallas-Fort value and quite 750,000 sq. feet in San Antonio.