Actual Property Veterans Kind Houston-Based mostly Full-Service
Business Actual Property Funding Agency With Nationwide Attain
HOUSTON, March 23, 2022 /PRNewswire/ — Longtime Houston pals and enterprise companions, John Leggett, CEO of Leggett Ventures, and Brad Elmore, former Senior Vice President at Newquest Properties, introduced immediately the formation of the brand new industrial actual property funding agency, NewFound Partners (NFP). The brand new enterprise, headquartered in Houston, develops and invests in conventional industrial actual property lessons, in addition to energy and renewable belongings throughout the nation.
“After six years of working collectively on a wide range of actual property funding initiatives, we’re excited to make it official with the formation of NewFound Companions,” stated John Leggett, CEO of Leggett Ventures and Co-founder of NewFound Companions. “Leggett Ventures has been an energetic participant in actual property and power funding during the last decade, and the formation of NFP permits us to increase our footprint in industrial actual property belongings.”
NewFound Companions actively invests in ground-up growth alternatives and income-producing properties in high-growth markets. NFP’s portfolio presently spans workplace, hospitality, industrial, retail, multifamily, and mixed-use properties, together with photo voltaic and battery energy storage developments. NFP’s principals have a mixed 50 years of expertise they leverage to create and execute data-driven methods throughout their investments.
“We’ll think about any property kind if we see a chance to transition it to a better and higher use. A few of our present initiatives embody changing an in-fill warehouse right into a paid parking zone, creating two rice farms to 475 megawatts of Solar energy, and turning a bowling alley into an workplace constructing.,” stated Brad Elmore, Co-founder and Managing Principal of NewFound Companions.
NewFound Companions’ newest industrial venture, 1106 Witte within the Spring Department District, is being repurposed right into a 28,000 sq. foot workplace and would be the firm’s headquarters. The constructing is scheduled to open within the fourth quarter of this 12 months, with roughly half of the constructing already pre-leased and the remaining half obtainable for lease to 3rd events.
“A surface-parked workplace within the Memorial space is fairly distinctive, and will probably be enjoyable to show a cinder block field right into a post-modern assertion piece. It is a little bit too early to share particulars, however it’s assured to be a cool and distinctive workplace house,” added Brad.
About NewFound Companions:
A Houston-based industrial actual property agency specializing within the funding and growth of opportunistic actual property initiatives throughout the US. Co-founded by Brad Elmore and John Leggett, NewFound Companions portfolio spans workplace, hospitality, industrial, retail, multifamily, and mixed-use properties, together with photo voltaic and battery energy storage developments.
About Leggett Ventures:
A Houston-based Non-public Fairness agency specializing in Actual Property and Power investments. During the last decade, Leggett Ventures has sourced and managed a mess of funding alternatives within the Actual Property and Power sectors together with portfolio firms: On Level Customized Houses, Frontier Title, Cannon Discipline and newly shaped NewFound Companions. With a give attention to hands-on administration, the Leggett Ventures crew has greater than $100 million in belongings below administration.
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SOURCE NewFound Companions