After beefing up its investment management division a little over a year ago, Houston-based NAI Partners’ investment fund recently closed on two properties in Texas, one of which is in a new market for the company.
NAI closed on the 61,165-square-foot medical office building at 11301 Fallbrook Drive in Cypress, said Andrew Pappas, senior vice president of the firm’s investment management division. The firm also closed on the 85,368-square-foot office building at Marymont Office Park in San Antonio.
This is NAI Partners’ first acquisition in San Antonio. NAI has also earmarked a significant amount of capital toward infrastructure and aesthetic improvements to the property, per a spokesperson. NAI Partners typically targets properties worth anywhere from between $7 million and $12 million.
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