Apricus Realty Capital Acquires 11-Acre Houston IOS Site from Private Equity Firm
HOUSTON (June 24, 2025) – Dallas-based Apricus Realty Capital, a leading real estate investment firm specializing in industrial outdoor storage assets (IOS), acquired an 11.29-acre IOS property at 6003 Cunningham Road in Houston. The property is leased to Knight Oil Tools, a portfolio company of Voyager Interests, a Houston-based private equity firm.
The site includes 32,358 square feet of functional, crane-served warehouse space, offering direct access to Beltway 8 and Highway 290, two of Houston’s most critical transportation arteries. Located in the West Outer Loop submarket, which boasts a vacancy rate of less than 4%, according to CoStar, this facility has been fully leased since 2002.
Apricus acquired the property in a partnership with ABR Capital Partners, continuing its programmatic joint venture focused on IOS aggregation. Apricus Vice Presidents Garrett Marler and Cort Martin led the acquisition. Colliers Principal/EVP Jason Tangen and Principal Paul Dominique represented the seller. JLL Capital Markets Senior Director CW Sheehan, Associate Peyton Ackerman and Analyst Nate Henderson represented the joint venture in the procurement of debt financing.
“This acquisition exemplifies our strategy of targeting infill IOS assets with long-term leasing upside in high-growth Texas markets,” said Matt Haley, Managing Principal of Apricus. “The site’s strategic location, functional improvements and below-market lease structure offer immediate yield with a clear path to value creation.”
“We plan to reposition the site to attract a single tenant capable of utilizing the property’s full 11+ acres,” Martin added. “We see this submarket as underserved, particularly for users requiring extensive laydown yard and crane-equipped structures.”
Marler noted that the company’s acquisition strategy is built around supply chain-critical markets where industrial fundamentals are strong and land-constrained. “Targeting 3- to 15-acre sites with sub-20% coverage across core Texas metros allows us to deploy capital into assets with both near-term yield and long-term appreciation potential,” he said.
The acquisition underscores Apricus Realty Capital’s continued expansion in the IOS sector. With a growing footprint in major Texas metros and key logistics hubs across the U.S., Apricus remains focused on assets with low site coverage, strong tenant demand and long-term redevelopment optionality.
Apricus Realty Capital’s portfolio includes 14 properties across approximately 70 acres.
About ABR Capital Partners
ABR Capital Partners (ABR) is a Baltimore-based real estate investment manager with a proven fifty-year track record, unconstrained access to the broadest opportunities in the middle market, and deep, long-standing relationships with leading real estate operators across the United States. Since the inception of the firm, ABR has acquired over $4.2 billion of assets, representing over 400 transactions, and seven firm-sponsored real estate funds. For more information visit abrcapital.com.
