Companions Capital, the funding platform of Companions Actual Property, has acquired Dixie Farm Enterprise Park, a 196,000-square-foot flex/retail property in Houston. The corporate bought the property via Alternative Fund V, marking the fourth buy made by way of the fund.
WMF Investments bought the asset, in keeping with CommercialEdge knowledge. The acquisition was financed by Veritex Neighborhood Financial institution. Companions Capital’s Asset Administration plans to undertake vital capital enhancements to spice up each the performance and aesthetic attraction of the property.
Accomplished in two phases in 2000 and 2002, Dixie Farm Enterprise Park encompasses eight buildings unfold on some 14 acres. The property options 36,900 sq. ft of retail area, insulated ceilings, local weather management, 17 and 22 clear heights, loading doorways and roughly 315 parking areas.
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Companions Alternative Fund V targets high-quality industrial, retail and workplace properties in main Texas and southeastern U.S. markets. Through the previous eight years, Companions Capital sponsored seven funds, executed greater than $600 million in transactions, and at present handle a portfolio exceeding 1.4 million sq. ft in these areas.
By means of its Companions Funding Fund IV, Companions Capital acquired Mitchelldale Enterprise Park, a 377,752-square-foot industrial flex property in Houston, again in March 2023. Hartman bought the 12-building portfolio. The acquisition was financed with a mortgage supplied by Origin Financial institution.
Houston’s industrial scene
Situated at 15255 Gulf Freeway, Dixie Farm Enterprise Park is in Houston’s Clear Lake submarket. The property is close to Interstate 45, which permits quick access throughout the Houston metropolitan space.
Houston has ranked third nationally in industrial gross sales quantity, with roughly $2.8 billion in the course of the first 11 months of 2024, in keeping with a current CommercialEdge report. The metro was additionally among the many regional leaders in sq. footage beneath building, with greater than 12.3 million sq. ft.
