Velocis acquires 8.45 acres for $35 million medical office project in Fort Worth

Velocis, a private equity real estate investment management firm based in Dallas, acquired almost 8.5 acres off I-20 in Fort Worth adjacent to the Texas Health Hospital in Willow Park. The land purchase will accommodate the development of two speculative medical offices buildings (MOBs) totaling 100,000 square feet. The price of the land was not disclosed.

Prime Healthcare Properties is Velocis’ development partner and sourced the opportunity for Velocis. Architect is Grace Hebert Curtis Architects, civil engineer is Wier & Associates and the general contractor will be Brasfield & Gorrie.

Velocis Acquires 8.45 Acres for $35M Medical Office Project in Willow Park

Nearly 100k SF planned across two buildings for 2023 completion in prime location near Texas Health Hospital in Willow Park


FORT WORTH – (April 20, 2022) – Velocis, a private equity real estate investment management firm, acquired almost 8.5 acres off I-20 in Fort Worth adjacent to the Texas Health Hospital in Willow Park, to build two speculative medical offices buildings (MOBs) totaling 100,000 square feet.

“This project will deliver Class A medical office space to a growing medical node in Willow Park that is serving the explosive population growth and strong demographics,” says Velocis Co-Founder and Partner Mike Lewis. 

The site is off I-20 in Willow Park in the center of the dynamic growth corridor between Weatherford and Fort Worth. The price of the land was not disclosed. 

The project includes two speculative MOBs; one will be three stories totaling 60,000 square feet and the other will be two stories totaling 40,000 square feet. Construction is slated to start this year with a 2023 targeted completion. JLL’s Ethan Garner, who leads their Healthcare and Life Science practice, will handle leasing for the buildings.

“Our site is adjacent to the Texas Health Willow Park hospital campus, as well as multiple ambulatory surgery centers under construction including GI Alliance and a spine and orthopedic center,” Lewis adds.

Prime Healthcare Properties is Velocis’ development partner and sourced the opportunity for Velocis. Architect is Grace Hebert Curtis Architects, civil engineer is Wier & Associates and the general contractor will be Brasfield & Gorrie.

“This development is the culmination of years of planning that will enhance the quality of life for West Fort Worth for future generations. The first phase, the 60,000 SF MOB, will be the nexus of the masterplan campus offering a full spectrum of healthcare services to Willow Park, Weatherford and surrounding trade areas,” says Mark Samples, President of Prime Healthcare Properties, LLC.

Dallas-based Velocis has been active in real estate since 2010, purchasing and developing over $2 billion worth of commercial assets across the Sunbelt. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management, and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. Acquisition team members include Daniel Plumlee and Bailey Crowell.

About Velocis
Velocis is a private equity real estate investment firm active in the acquisition, operation/management and disposition of commercial real estate. Founded in 2010, Dallas-based Velocis has more than $2.2 billion of historical assets under management and has raised more than $1 billion of equity. With a focus on the major markets in the Sunbelt region, the company’s portfolio includes multifamily, healthcare, industrial, office and retail. The Velocis partners have over 160 years of collective real estate experience, currently leveraging their talents across multiple strategies and fund vehicles. Additional information about Velocis can be found at velocis.com.  

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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Velocis Purchases 900 Ashwood Building

Class A office building/space will undergo additional upgrades, including an outdoor tenant lounge

ATLANTA – (April 12, 2022) – Velocis, a private equity real estate investment management firm, has purchased 900 Ashwood, a 207,291-square-foot Class A office building located in Atlanta’s Central Perimeter submarket. 

“900 Ashwood is a desirable asset for various reasons including its recent upgrades and advantageous location in the heart of Atlanta,” said Jim Yoder, partner, Velocis. “We bring fresh capital and a fresh mindset to the property which allows for a more aggressive approach to leasing space in the building. “

In line with Velocis’ value-add investment approach, the company will implement key property upgrades on top of recent extensive improvements made by the former owner. These new enhancements will include updated outdoor seating to create an outdoor tenant lounge with a firepit and communal area. Additionally, Velocis will upgrade the current spec office suite offering available to prospective tenants by providing fully furnished and outfitted tenant spaces. 

These enhancements will complement the building’s current amenities including a newly renovated upscale tenant lounge and on-site Ashwood Café, an updated fitness center with locker rooms, showers and saunas, and an expansive shared conference room/training center. Additionally, dedicated parking spaces offer covered building access. 

900 Ashwood is 65% leased to a strong tenant roster including CRH Americas, Inc.; Simpson Housing; Texas Instruments; Concentra Health; and several more. Immediately surrounding 900 Ashwood is over 50 dining options, 37 shopping options and 10 hotels. Many of these walkable amenities are in the newly completed Perimeter Marketplace located directly across the driveway from the building. 

900 Ashwood is Velocis’ fifth Atlanta-market asset. The fund manager also owns Sugarloaf Corporate Center, an office park and mixed-use development in the heart of Atlanta’s Gwinnett County. Velocis’ previous Atlanta investments include Parkway at Avalon, a two-building office complex in Alpharetta; Royal Centre One, an office building in the heart of Alpharetta’s Royal 400 Office Park; and, 1600 Parkwood, an office building in the Cumberland/Galleria submarket. 

Richard Reid and Huston Green at JLL Capital Markets brokered the off-market sale. Parmenter and Starwood were the sellers, and Parmenter will remain a 5% equity partner and provide property management and construction management services. Kirk Rich and Chris Godfrey of Avison Young will provide leasing services.

Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee, and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. Acquisition team members include Daniel Plumlee, Rex Huddleston and Bailey Crowell.

About Velocis

Velocis is a private equity real estate investment firm active in the acquisition, operation/management and disposition of commercial real estate. Founded in 2010, Dallas-based Velocis has more than $2.2 billion historical assets under management and has raised more than $1 billion of equity. With a focus on the major markets in the Sunbelt region, the company’s portfolio includes multifamily, healthcare, industrial, office and retail. The Velocis partners have over 160 years of collective real estate experience, currently leveraging their talents across multiple strategies and fund vehicles. Additional information about Velocis can be found at velocis.com.  

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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Velocis Anticipates Growth with San Antonio, Nashville Buys

Velocis recently purchased two multifamily assets, Highline, a 208-unit multifamily community in San Antonio, and Station 40, a 246-unit multifamily community in Nashville. Highline and Station 40 are Velocis’ third and fourth multifamily assets. Velocis also owns multifamily assets in Charlotte and Austin.

“San Antonio and Nashville continue to be top job markets, and both are seeing excellent population and economic growth. We believe the San Antonio to Austin corridor will continue to see robust growth, as will Nashville,” said Jim Yoder, partner. “Multifamily is one of the most dynamic sectors in the real estate industry. Both assets provide value-add opportunities and are poised to achieve strong rent growth.”

Built in 2000, Highline is located 10 minutes east of the University of Texas at San Antonio and across the street from the new University Village mixed-use development. Once completed, University Village will span 114 acres, and include 320,000 square feet of office and 119,000 square feet of retail, all walkable from Highline.

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Velocis Purchases Two Multifamily Assets

New purchases in San Antonio and Nashville are Velocis’ third and fourth multifamily assets

Dallas, Texas – (Oct. 21, 2021) – Velocis, a private equity real estate manager, has purchased two multifamily assets, Highline, a 208-unit multifamily community in San Antonio, and Station 40, a 246-unit multifamily community in Nashville, Tennessee. 

Highline and Station 40 are Velocis’ third and fourth multifamily assets. Velocis also owns multifamily assets in Charlotte, North Carolina, and Austin, Texas. 

“San Antonio and Nashville continue to be top job markets, and both are seeing excellent population and economic growth. We believe the San Antonio to Austin corridor will continue to see robust growth, as will Nashville,” said Jim Yoder, partner. “Multifamily is one of the most dynamic sectors in the real estate industry. Both assets provide value-add opportunities and are poised to achieve strong rent growth.” 

Built in 2000, Highline is located 10 minutes east of the University of Texas at San Antonio and across the street from the new University Village mixed-use development. Once completed, University Village will span 114-acres and include 320,000 SF of office and 119,000 SF of retail, all walkable from Highline. 

Highline has enjoyed a history of strong institutional ownership and the property requires minimal updates. However, Velocis will implement a comprehensive value-add plan for the unit interiors to improve leasing traffic and push rents including updated counters, cabinetry, flooring, lighting/hardware and more. 

As Austin continues to grow and that market’s cost of living continues to rise, companies and renters alike have moved down the I-35 corridor to San Antonio for a more affordable lifestyle. However, San Antonio is also experiencing meaningful population growth with a modest delivery of new housing – promising strong rent growth opportunities in the near term.

Station 40, located in Nashville’s Sylvan Park neighborhood, is a Class A, mid-rise multifamily asset built in 2016. The property is a short distance from many of Nashville’s top employers and is surrounded by premier retail, including a new Publix grocery store under development. The asset already has a strong market and leasing presence that will be further enhanced with updates to the gym, pool deck, outdoor lounge and business center. Additionally, Velocis plans to implement a value-add program that includes upgraded flooring, cabinetry, lighting and technology packages to modernize unit interiors.  

Velocis acquired an office building in downtown Nashville earlier this year and is excited to expand the Fund’s footprint in this booming market.

Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee, and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. Acquisition team members include Daniel Plumlee, Rex Huddleston and Bailey Crowell.

About Velocis

Velocis is a private equity real estate investment firm, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.  

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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Velocis Completes Portfolio Sale of Three Suburban Office Assets

Sale marks the successful transition of three Class A assets from multiple markets

DALLAS – (Oct. 18, 2021) – Velocis, a private equity real estate manager, has sold three assets in a portfolio sale to an institutional buyer, including Kierland One in Phoenix, Arizona, Parkway at Avalon in Alpharetta, Georgia, and 3120 Fairview Park in Falls Church, Virginia.

Through prioritizing investments in the Sunbelt markets, Velocis strategically acquired Kierland One, Parkway at Avalon and 3120 Fairview Park for their prominence in both quality and location. Velocis repositioned each Class A asset and executed successfully on its leasing strategy prior to selling. 

“By initiating several strategic renovations and marketing campaigns for each property, we were able to unlock value for our investors,” said Jim Yoder, Co-Founder and Partner at Velocis. “These value additions, alongside our long-standing industry relationships, provided the perfect opportunity for all three assets from different markets to be sold together.”   

Kierland One is a four-story 175,577-square-foot Class A office building situated on 11 acres of land in Phoenix directly off Scottsdale Road. This asset was acquired by Velocis in 2019 and is anchored by the Carlisle Companies corporate headquarters. 

Parkway at Avalon is a 194,644-square-foot two-building office property located in the thriving Atlanta suburb, Alpharetta, and directly across from Avalon, one of the top mixed-use developments in the South. Velocis purchased Parkway at Avalon in 2017 from a special servicer, LNR, through an online auction platform and significantly repositioned the asset through a lobby renovation and amenity upgrades. 

3120 Fairview Park is a 195,260 square foot office building located in Fairview Park, one of Northern Virginia’s premier suburban office parks. Velocis purchased this asset in 2016 alongside long-time partner Moore & Associates. Moore & Associates leased and managed the property, and they played an instrumental role in repositioning the asset.

Velocis was represented by Kevin McConn from JLL Capital Markets who brought the buyer and Velocis together in an off-market transaction with discussions beginning prior to the COVID-19 Pandemic. 

“We have been in discussion with the buyer for just under two years. Through patience and persistence, we were able to successfully execute on a portfolio sale by delivering meaningful capital back to our investors,” said Mike Lewis, Co-Founder and Partner at Velocis. 

Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in Sunbelt markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee, and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. 

About Velocis

Velocis is a private equity real estate investment firm, active in the acquisition, operation/management, and disposition of commercial real estate in the Sunbelt. Additional information about Velocis can be found at velocis.com.  

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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Why Velocis Chose Dallas for Its Industrial Debut

Partner Paul Smith offers a full picture of the company’s recent decision to enter new territory.

As online shopping transitioned from “an option” to “first choice” for many end clients in the past few years, demand for space has skyrocketed. An increasing number of companies continue to enter the booming industrial sector and developers are barely keeping pace.

According to CommercialEdge data, almost 500 million square feet of industrial space was under development across the country as of July, with the Dallas-Fort Worth market leading the way, with 32.6 million square feet under construction.

Last month, Velocis kicked off its entry into the industrial sector with the acquisition of two development sites in the Dallas area. The company teamed up with Sumitomo Corp. of Americas to develop 850,000 square feet of Class A industrial space in the South Dallas and the Great Southwest submarkets of Texas. Partner Paul Smith offered Commercial Property Executive an in-depth view on the strategy behind this move.

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Velocis Enters Industrial Market

Velocis closes on its first two industrial development sites in DFW 

DALLAS, Texas – (July 8, 2021) – Velocis, a private equity real estate manager, has entered the industrial real estate market, recently closing on two development sites which will be developed into 850,000 SF of Class A industrial space in the South Dallas and GSW submarkets. Velocis partnered with Sumitomo Corporation of Americas on these investments. These are the first of several industrial investments Velocis plans to pursue with the wholly owned subsidiary of Tokyo-based Sumitomo Corporation. 

“The demand for industrial real estate, especially in Texas metro areas like Dallas-Ft Worth, is at an all-time high right now,” said Paul Smith, Velocis Partner. “We consider these first two transactions to be the first of many industrial investments with our client as we continue to evaluate opportunities locally and on a national level.”

Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith and David Seifert. 

About Velocis

Velocis is a private equity real estate investment firm, active in the acquisition, operation/management and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.  

About Sumitomo Corporation of Americas

Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. With nearly 40 years of real estate investment and development experience in the U.S., SCOA maintains a diverse and balanced real estate portfolio with investments in commercial office buildings, multi-family communities, and master-planned developments.

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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Velocis Successfully Exits One Clearlake Office Tower in West Palm Beach, Florida

Sale follows the 221,079-square-foot tower’s repositioning as a Class A asset

WEST PALM BEACH, Fla. – (July 1, 2021) – Velocis, a private equity real estate manager, has sold One Clearlake, a 221,079-square-foot office tower in downtown West Palm Beach, Florida. 

Through its strategy of investing in value-add assets in the Sunbelt states, Velocis repositioned and transformed the 18-story One Clearlake from a Class B to a Class A asset to compete with other best-in-class properties in the competitive West Palm Beach CBD submarket. This repositioning allowed Velocis to capture one of the market’s largest tenants, Intech Investment Management. The office tower is currently 61% leased with other high-profile tenants including Mass Mutual, Prudential and Truist Financial Corporation, among others. 

“One of our core values is to pursue value-add assets in business-friendly environments that can support substantial job growth, and West Palm Beach is a perfect example of this. The pandemic has accelerated job growth in this coastal town, and Velocis was in a great position to capitalize on this momentum,” said Mike Lewis, Velocis partner. “Intech relocating to One Clearlake forever puts the office tower on the map and further upgrades the building’s profile.”

JLL served as the broker of the seller and procured the buyer, Tricera Capital, LLC. Additionally, JLL worked on behalf of the buyer to secure the acquisition loan for the property.

The JLL Capital Markets team representing the seller was led by Managing Director Ike Ojala, Senior Managing Director Hermen Rodriguez, Director Matthew McCormack and Associate Cody Brais.

Financing efforts were led by JLL Capital Markets’ Senior Managing Director Chris Drew, Director Maxx Carney and Brais.

“Downtown West Palm Beach is experiencing an ongoing revolution that is transforming it into the ‘Wall Street of the South,’” Ojala. “This submarket boasts the highest rental rates in Florida and exceptionally strong rental growth since 2013.”

Dallas-based Velocis has been active in real estate since 2010, purchasing 35 assets located in major markets within Arizona, Colorado, Texas, Georgia, Florida, North Carolina, Virginia, Tennessee, and the Washington D.C. Metro Area. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Velocis partners include Fred Hamm, Mike Lewis, Jim Yoder, Paul Smith, and David Seifert. 

About Velocis

Velocis is a private equity real estate investment firm, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additional information about Velocis can be found at velocis.com.  

This does not constitute an offer to sell, or a solicitation of any offer to buy any securities or investment advice, nor is it intended to be a description of all material factors an investor should consider before making any investment. 

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West Palm Beach office tower sold for $61M

The 18-story One Clearlake Centre office in downtown West Palm Beach sold for $60.7 million.

Velocis Clearlake SPE LLC, a partnership between Velocis and CREC Capital, sold the 220,000-square-foot office at 250 S. Australian Ave. to a partnership of Miami-based Tricera Capital, Palm Beach-based NDT Development, Boston-based New England Development and Boston-based Rockpoint Group. The deal was brokered by JLL. The price equated to $276 a square foot for the offie space. It also includes a 669-space parking garage. 

One Clearlake Centre last traded for $42.3 million in 2017, so it gained in value. 

The tower was developed on the 2.9-acre site alongside a lake in 1987. 

Tricera Capital is also building the Press mixed-use project in West Palm Beach.

“We are very excited about the One Clearlake acquisition, and continue to be extremely bullish on the city and its long-term growth,” Tricera co-founder and Managing Principal Ben Mandell said. “The building’s location, quick easy access to the interstate, sublime water views, upscale finishes and flexible floor plates make OCL an ideal fit for any local, national or global company that desires to be in downtown West Palm Beach.”

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