Apricus Realty Capital Continues Acquisition Run with Houston IOS Property
DALLAS (Oct. 25, 2023) – Dallas-based Apricus Realty Capital acquired its fourth industrial outdoor storage (IOS) property with the acquisition of 12400 & 12402 Taylor Road in Houston.
The acquisition includes two IOS buildings totaling 31,750 SF on five acres. The secured outdoor storage facilities include a concrete paved yard used for building materials storage and distribution. Apricus Realty Capital Managing Principal Matt Haley, Vice President Garrett Marler, and Associate Cort Martin self-represented Apricus in a programmatic joint venture with ABR Capital Partners.
“This property is in a great location within a high-growth market,” Marler said. “The current quality tenant has a long operating history, which helps make this an exciting addition to the portfolio.”
Martin explained that a programmatic JV is a means of structuring a series of commercial real estate investments between sponsors and capital partners. Rather than one-off pairings between sponsors and institutional equity partners to consummate individual transactions, a programmatic JV creates an infrastructure for two investors with similar goals to build a portfolio of investments.
Located near Highway 290 on Taylor Road, this location has excellent access to Houston’s major trade routes via thoroughfares US 290, Beltway 8 and FM 529 in the Northwest Industrial Corridor in the West Outer Loop, Marler said.
This IOS acquisition comes on the heels of the purchase of 11600 CF Hawn, a fully occupied four-acre crane rental storage and maintenance facility at 11600 CF Hawn Freeway in Dallas. The 8,800-square-foot facility includes two buildings. The Apricus IOS portfolio now includes two Dallas locations and another Houston location.
Dallas-based Apricus Realty Capital is a boutique commercial real estate investment firm focused on institutional quality industrial, Class-A office, and retail properties in the major Texas markets of Dallas/Fort Worth, Austin, and Houston. We bring deep experience and extensive market knowledge to the table. Founded in 2021, the 48% female-owned firm is led by an experienced management team with cross-functional expertise in commercial real estate and property investment. Apricus is affiliated with the operating platform of Dallas-based Younger Partners. For more information, please visit www.apricusrealtycapital.com.
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. ABR specializes in value-add, opportunistic, and core-plus investments in the middle market, and takes a focused yet flexible approach regarding market, property type, and capital structure, with a goal of maximizing risk-adjusted returns at the asset and portfolio level. Since the inception of the firm, ABR has acquired over $4.5 billion of assets, representing over 400 transactions, and six firm-sponsored real estate funds. For more information visit abrcapital.com.