Blanco Crossing. Picture courtesy of Companions Capital
Companions Capital, the funding platform of Companions Actual Property, has launched Companions Alternative Fund V, with plans to lift no less than $150 million for investments in industrial, retail and workplace property in main markets throughout Texas and the southeastern U.S. It’s the agency’s largest fund so far.
Andrew Pappas, president of Companions Capital, mentioned in a ready assertion the fund workforce ought to have greater than $400 million in buying energy to build up a robust, diversified portfolio of property for his or her buyers. Companions focuses on delivering risk-adjusted returns by rigorously curated, value-add actual property investments, he mentioned.
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Adam Hawkins, companion on the agency, mentioned in ready remarks they see plenty of alternative within the present market and expects the pipeline for Fund V to be robust. Hawkins mentioned buying property in a difficult rate of interest market aligns properly with the corporate’s diligent and conservative method to investing and debt financing.
In the course of the previous seven years, Companions Capital has raised and deployed 4 funding funds totaling greater than $450 million in transaction quantity. Its present portfolio contains greater than 1.4 million sq. ft of property situated all through Texas’ main markets. The corporate is predicated in Houston and has places of work in Dallas, San Antonio and Austin, Texas.
Earlier fund offers
Companions Capital closed its fourth fund in March. Within the eighth and ultimate buy for Companions Funding Fund IV, the agency acquired Mitchelldale Enterprise Park, a 377,752-square-foot industrial flex property in Houston, from Hartman. Companions financed the 25-acre, 12-building portfolio with a mortgage offered by Origin Financial institution. The properties have been accomplished between 1974 and 1978 and vary in dimension between 58,000 and 102,292 sq. ft. The buildings, situated about 11 miles from downtown Houston, are at present 95 % leased.
Additionally in March, Companions Capital offered Blanco Crossing, a 22,606-square-foot retail middle in San Antonio that had been acquired by the corporate in 2020 by its third funding automobile. The customer was recognized solely as a personal investor in San Antonio. The gross sales worth was not disclosed however Pappas mentioned on the time the transaction was a testomony to the agency’s disciplined funding method and talent to navigate dynamic market circumstances.
