Apricus Realty JV Buys Houston IOS Facility

The deals marks the company’s fourth IOS investment. Image courtesy of Apricus Realty Capital

Apricus Realty Capital, in a programmatic joint venture with ABR Capital Partners, has purchased a two-building industrial outdoor storage property in Houston, totaling 31,750 square feet. TRECAP Cos. sold the asset, CommercialEdge data shows. Generations Community Federal Credit Union provided a $2.6 million acquisition loan, Harris County public records show.

Located at 12400 and 12402 Taylor Road, the property include a paved concrete yard for storage and distribution. The 5-acre asset is near U.S. Highway 290 and major routes in Houston, such as Beltway 8 and 6, while also being 20 miles from downtown and within 23 miles from George Bush Intercontinental Airport. Tenants include SFR Building Products and Total Waste Management Alliance.

Apricus Realty Capital Managing Principal Matt Haley, Vice President Garrett Marler and Associate Cort Martin represented the company in the transaction.

Since the beginning of the year, several joint ventures were formed for the acquisition and development of new IOS products. In April, Centerbridge Partners and Dalfen Industrial joined forces with plans to invest in key markets that provide storage space for vehicle parking, containers, trailers, machinery and construction materials.

In March, GreenPoint Partners launched a $500 million IOS platform, with GCM Grosvenor as its lead investor. The funds will be used to acquire semi-truck parking and trailer storage assets across the U.S.