posted on September 03, 2011 00:41
Peloton Capital Partners, in partnership with an Austin-based real estate private equity firm, has bought a five-building, 347,258-square-foot office portfolio in Houston's Westchase and Energy Corridor submarkets.
The cost of the deal was not immediately disclosed.
The acquisition represents Dallas-based Peloton's desire to expand its capabilities in Texas, officials said. Earlier this year, Peloton and San Antonio-based Cambridge Realty Group Inc . merged their operations to expand the firm capabilities.
Peloton plans to open its Houston property management office, which will be headed by Ike Kimmel, to oversee the recently acquired portfolio. The property leasing will be handled by Griff Jaggard and Derek Beckwith Moody Rambin Interests.
Holliday Fenoglio Fowler L.P.'s Martin Hogan and H. Dan Miller represented the seller of the portfolio. The firm's managing director Steve Heldenfels represented the borrower in the acquisition financing and joint venture equity.
Peloton has more than 25 million square feet of leased or managed properties.
8/8/11, Candace Carlisle, Houston Business Journal