Principal Transactions
Principal investing is the convergence of seeing through the fog and truly trusting your instincts to help find the proverbial needle in the haystack. Once found, the heavy lifting starts – mitigating risk and enhancing returns – easier said than done. We combine our extensive retail market knowledge with strong tenant relationships to find unique “inefficiencies in the marketplace” that allow us to drive value. Financial engineering of the capital stack, efficiently construction or re-constructing projects, staying tuned in to the broader capital markets and knowing the supply and demand characteristics of the local trade area has allowed us to provide strategic investments for our partners and achieve above average returns.
THE CENTER AT PEARLAND PARKWAY, PHASE I - PEARLAND, TX
The 165,000 SF center was the first power center in Houston to break ground coming out of the Great Recession. The project was delivered 65% pre-leased and anchored by Ross, T JMaxx, Petco and Palais Royal among others. Thackeray Partners was the equity partner and the project was acquired by Dunhill Partners in 2017.
THE CENTER AT PEARLAND PARKWAY, PHASE II
PEARLAND, TX
The 108,000 SF second phase of The Center at Pearland Parkway broke ground following the success of Phase I and is anchored by Academy, Carter's and Bath and Body Works. The center was funded with private investors and is fullystabilized at this time.
FOUR CORNERS SHOPPING CENTER
LAKE JACKSON, TEXAS
Four Corners Shopping Center was purchased in 2014 with plans to redevelop along with Chief Partners. The team successfully executed the plan to reposition the asset, lease space to national and regional tenants and exit the project upon stabilization. The center was sold to a private buyer from Houston in 2017.
LAKE JACKSON CENTRE - LAKE JACKSON, TEXAS
The 100% leased power center was purchased in 2017 as the team identified an opportunity to increase the value of the center that was neglected by an out of state owner for several years. The principals are executing the plan to roll up the below market rents and improve the appearance of the center.
BEFORE (2011)
AFTER (2014)
VILLAGE PLACE SHOPPING CENTER - HOUSTON, TEXAS
Village Place Shopping Center was 100,000 SF distressed shopping center that was 90% vacant when we purchased the center from a special servicer. We demolished 70 percent of the shopping center to sign a ground lease with HEB Grocery for their Joe V's concept, sold the remaining 30,000 SF in the back of the parcel to a private school and leased two small buildings on the hard corner. This redevelopment was funded by a private investor in 2012.
Reposition Former Gas Station - HOUSTON, TEXAS
We purchased a vacant gas station at the lighted intersection on FM 1960 and Cypress Station. We executed a long term corporate ground lease with Carl's Jr. This project was a partnership with a private investor in 2011.