NAI Fund Sells Office Building in Southeast Houston for Undisclosed Sum
12600 Featherwood
HOUSTON – (Realty News Report) – NAI Investment Fund has sold its office building at 12600 North Featherwood Drive in southeast Houston.
The property was the first acquisition by Fund I after its 2015 launch. NAI Investment Fund representatives Andrew Pappas and Adam Hawkins partnered with Marty Hogan of HFF to complete the transaction.
“Since our inception, our investment strategy has focused on identifying office, industrial and retail properties in Houston, Austin, San Antonio and Dallas where we can create meaningful value within a relatively short timeframe,” said Andrew Pappas, Senior Vice President of NAI Investment Fund.
At the time of sale, the Featherwood building was 94 percent occupied, up from 77 percent when it was acquired in 2015.
NAI intends to launch Fund III in early 2019. The NAI Investment Fund I portfolio also includes Spring Park Village, a 76,409-square-foot retail center at the I-45 and Cypresswood intersection; 11301 Fallbrook Drive, a 61,165-square-foot medical office building in Houston; and Marymont Park, a single-story office park in northeast San Antonio.
