HFF Announces Sale and Financing of 4-property Light Industrial Portfolio in Houston

12/7/17

Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and acquisition financing of a four-property, 16-building industrial portfolio totaling 936,608 square feet in the South, Southwest and Northeast industrial submarkets in Houston, Texas.

The HFF team represented the seller, Stockbridge Capital Group (Stockbridge). ATCAP Fund I, LP purchased the property for an undisclosed price. Additionally, working on behalf of the new owner, the HFF team placed the five-year, fixed-rate loan with Global Atlantic Financial Group. The property was the first investment of ATCAP Fund I, LP, the new investment vehicle of Dallas-based ATCAP Partners.

The portfolio comprises the 206,483-square-foot Astro Business Park at 8825-9087 Knight Road; two buildings totaling 225,475 square feet at 5990-6018 Griggs Road; the 298,081-square-foot McCarty Business Park at 245-309 McCarty Street; and four buildings totaling 206,569 square feet at 8710-8798 Westpark Drive. The portfolio is 95 percent leased to 57 tenants and in infill locations in three of the top industrial submarkets in Houston with easy access to major thoroughfares, including Interstates 45 and 10, Sam Houston Tollway (Beltway 8), U.S. Highway 59, Loop 610 and Westpark Tollway.

HFF’s investment advisory team included senior director Trent Agnew and senior managing director Rusty Tamlyn.

The HFF debt placement team representing the new owner consisted of senior managing director Brian Carlton and senior director Cameron Cureton.

“Class B industrial, especially portfolios of scale, continue to generate a tremendous amount of interest due to the lack of competitive supply, pricing in relation to replacement cost and upward pressure on rental rates,” Angew said. “This portfolio has seen a significant uptick in rents since we facilitated the sale of it to Stockbridge for their value fund in 2012, and ATCAP recognizes the opportunity to continue this momentum at a basis well below replacement costs today.”

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.

About Stockbridge

Stockbridge Capital Group (www.stockbridge.com) is real estate investment management firm headquartered in San Francisco, California with offices in New York, Chicago and Atlanta. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of September 30, 2017, the firm’s total Assets Under Management was $11.1 billion.

About ATCAP Partners

ATCAP Partners is a Dallas-based real estate investment company focused on institutional quality office and industrial assets in primary and secondary markets, with a focus on the Southern and Central United States. Visit http://www.atcap.com for more information.

About HFF

HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

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