TriGate completes acquisition of Central Park Northwest
Dallas, TEXAS - TriGate Property Partners IV, L.P. recently closed on the acquisition of Central Park Northwest, a 292,000 square foot light industrial park located on 18 acres in the northwest submarket of Houston, TX. The purchase reflects TriGate’s appetite for infill industrial properties at discounts to replacement cost within institutional markets exhibiting strong population and job growth fundamentals.
The investment was acquired in a partnership with Rycore Capital. The new partnership expects the buildings to appeal to tenants seeking functional light industrial office space in a highly accessible location in the heart of Houston, near the intersections of I-610, I-290 and I-10.
Matt Rooney, TriGate’s Vice President of Acquisitions, commented, “The Property represents irreplaceable real estate in an infill location that will appeal to service tenants over the long term. TriGate is excited to be working with Rycore Capital on the transaction and is looking to further grow its industrial portfolio through both acquisition and development opportunities across Texas and the Sunbelt.”
TriGate and Rycore would like to thank Tom Lynch with CBRE, who acted as agent on behalf of the Seller.
About TriGate Capital
TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has current assets of management of nearly $2.0 billion through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.
TriGate manages four fully discretionary real estate funds, TriGate Property Partners, LP (Fully Realized), TriGate Property Partners II, LP (Fund II), TriGate Property Partners III, L.P. (Fund III), and TriGate Property Partners IV, LP (Fund IV) which are the vehicles through which TriGate conducts its investment strategy. Fund II and Fund III are fully invested, and Fund IV is presently in its investment period.
About Rycore Capital
Rycore Capital LP is a Houston-based real estate investment manager, focused on acquiring, leasing and managing income producing properties that deliver superior real estate solutions to our tenants while providing our investment partners with some of the most consistent value-add, core-plus and core returns. The Firm offers two investment platforms to investors: Fund Management and Direct Investment Advisory. The Firm aims to provide a solution with its institutional quality real estate investment management process to high net worth, family office and institutional investors. For more information regarding Rycore, visit the Company’s website at www.rycorecapital.com.