Apricus Acquires 3 Outdoor Storage Sites in Houston
Apricus recently acquired three industrial outdoor storage sites comprised of five buildings totaling approximately 70,000 square feet in Houston’s Northwest Inner Loop submarket. The property is situated on 4.01 acres along Pasket Lane, just south of Dacoma Street and only two minutes west of U.S. 290. Foundation Building Materials fully occupies the premises.
The in-fill industrial property was purchased for an undisclosed amount as the initial acquisition in a programmatic joint venture with an institutional partner, Alex Brown Realty.
“We are pleased with the first of many acquisitions with Alex Brown Realty,” says Matt Haley, managing principal of Apricus. “This partnership will continue acquiring other high-quality opportunities over the next 12 months, with a particular focus on in-fill industrial properties in Dallas-Fort Worth and Houston.” Since its start in November 2021, the leadership team at Apricus has been targeting industrial, Class A office, and retail properties in the major Texas markets of Dallas-Fort Worth, Austin and Houston. Apricus is affiliated with Younger Partners, a commercial real estate firm providing services to owners, investors and tenants across the region.
About Apricus Realty Capital
Apricus Realty Capital is a DFW-based real estate investment firm focused on the acquisition of industrial, Class A office, and retail properties. The 48 percent female-owned firm, which launched in December 2021, is led by an experienced management team with cross-functional expertise in commercial real estate and property investment. For more information, visit apricusrealtycapital.com.
About Alex Brown Realty
Alex. Brown Realty (ABR) is an independent real estate investment manager specializing in value-add, opportunistic, and core-plus investments in the middle market. The firm was founded in 1972 by the partners of Alex. Brown & Sons, a Baltimore-based investment bank organized in 1800. Since the inception of the firm, ABR has acquired over $4 billion of assets, representing nearly 400 transactions. ABR has sponsored five real estate funds and is currently marketing its sixth fund. The firm is an SEC-registered investment advisor. www.abrealty.com