Three commercial real estate investors in Fort Worth have launched a new firm focused on industrial properties.
The three – Pete Van Amburgh, Hunter Harrison and Paul Carr – announced their new firm – PHP Capital Partners – along with the acquisition of three industrial properties.
These three acquisitions, all procured off-market, mark the firm’s official launch and entrance into the industrial investment market.
Van Amburgh, Harrison and Carr serve as co-managing partners of the firm founded in January 2021 to capitalize on the increased user demand for light industrial real estate. That has become a big market in Dallas-Fort Worth. The market has grown due to shifting consumer shopping behavior, rising ecommerce and third-party logistics activity and supply chain disruption during the pandemic.
“Prior to the pandemic, we were already seeing increased investor demand within the light industrial space, especially in the major Texas markets and the greater Southwest,” said Harrison, former vice president of investments at Fort Capital. “A year later, that activity has increased substantially as investors and users alike look to benefit from the growth of this asset class due to its importance within the post-COVID economy.”
“Hunter, Paul and I each saw the potential of forming a company around aggregating and operating a portfolio of these types of assets, but admit we took a big leap in an uncertain time. You must act fast and trust each other’s strengths to succeed in such a competitive environment. Just a few months in, it’s looking like we’ve made the right call, and we’re very excited about the future of PHP as we have a big appetite for more acquisitions in this space,” added Van Amburgh, the son of KDC CEO Steve Van
Amburgh. Pete Van Amburgh was most recently a vice president of development with KDC.
Carr served as senior investment analyst with NorthMarq Capital..
In under four months, PHP has sourced and closed on three off-market acquisitions with several more deals in the pipeline. The three closed transactions include:
* Randol Mill Service Center – a 96,124-square-foot, multi-tenant, light industrial property located at 2400-2460 East Randol Mill in Arlington. The property is within the Great Southwest Submarket and the popular Arlington Entertainment District. The facility is 92% leased to nine separate tenants.
* Northridge Business Center – a 37,400-square-foot multi-tenant, light industrial property located at 2002-2006 North Highway 360 in Grand Prairie. The property is also within the Great Southwest Submarket with direct access to Highway 360. The building is 100% leased to four separate tenants.
* The Courtyard at Midway – a 61,260-square-foot, multi-tenant, light industrial property located at 7415 Whitehall Street in Richland Hills. The property is within the North East Fort Worth industrial submarket, less than 15 minutes from DFW International Airport. The building is 82% leased.
“It was a real pleasure to work with PHP Capital in the purchase of our Randol Mill Service Center,” said PAR Capital Partners CEO Jerry Reis. “Pete, Hunter and Paul will do well as landlord and investors. They have the right attitude in caring about their tenants – the real assets in any purchase.”