Category: Press Releases

HOUSTON – (May 30, 2018) – Velocis, a private equity real estate manager, has sold Echo Lane, a 189,162-square-foot Class A office complex in Houston’s Hedwig Village. 800 Builders purchased the property for an undisclosed price.

“When we purchased Echo Lane, we saw a great opportunity to invest in a property with not only a premier address, but also unique characteristics,” said Mike Lewis, partner, Velocis. “As with all of our investments, our goal was to identify and unlock value in the property. With Echo Lane, our understanding of the local market, along with some patience and restraint, played a major role in our ability to increase occupancy and raise rental rates with minimal investment, and ultimately, dispose of the asset at the optimal time.”

Velocis purchased the property, which is located at 950 and 952 Echo Lane, in 2012 and has since raised occupancy from 83 percent to 97 percent. The buildings are situated on 3.8 acres of wooded land and boast distinct characteristics including a stained-glass ceiling atrium and four-story marble grand staircase. The properties are located in the upscale Hedwig Village, featuring one of the most impressive addresses in Houston. Rudy Hubbard, Kevin McConn and Rick Goings with JLL represented the owner.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 26 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia, North Carolina, and the Washington, D.C. corridor. Velocis is led by a team of five seasoned partners who are directly responsible for the acquisition, asset management and disposition of assets. Partners in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

About Velocis

Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. 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. 

SUGAR LAND, Texas – (Oct. 19, 2017) – Velocis, a private equity real estate manager, has acquired Two Sugar Creek, a Class A, 143,410-square-foot office building located in Sugar Land, Texas, one of Houston’s most sought-after suburbs.

“Sugar Land is consistently the top Houston office submarket in terms of occupancy rate. The current stability is appealing to us, as are the long-term growth projections for the submarket,” said Mike Lewis, Velocis principal. “Combined with the location, the quality of the design and the opportunity to add immediate value make Two Sugar Creek a perfect fit for Velocis’ investment strategy.”

At 84.7 percent leased, Velocis plans to take advantage of the Two Sugar Creek’s rare existing vacancy by adding value through strategic leasing efforts. Other value-add plans include key building improvements, like upgrades to common areas and vacant tenant suites.

Velocis has partnered with Stream Realty Partners to provide leasing and management services for Two Sugar Creek.

Built in 1999, the six-story property features high-quality design, flexible and efficient rectangular floor plates, high-end finishes, on-site conferencing facilities, a grab and go deli, and structured parking.

Located one block from Dairy Ashford Road, and less than a mile from the intersection of Interstate 69 and U.S. 90, Two Sugar Creek’s location provides tenants and visitors convenient access to several of Houston’s other primary transportation arteries, including Beltway 8, Westpark Tollway and Grand Parkway, as well as Sugar Land’s residential communities.

HFF represented the seller in the transaction. Craig McKenna, vice president, and Mat Volz, senior associate, with Stream will oversee leasing and Debrah Martin with Stream will oversee property management services for the building.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 25 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Principals in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

About Velocis

Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at velocis.com.

About Stream Realty Partners

Stream is a commercial real estate firm with locations across the country. The company’s full-service offerings cover the broad spectrum of leasing, management, development, construction, health care and investment sales services across the commercial and multifamily industry. In addition, Stream specializes in sourcing acquisition and development opportunities for the firm and its clients. Visit www.streamrealty.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. 

WEST PALM BEACH, Fla. – (July 20, 2017) – Velocis, a private equity real estate manager, in partnership with CREC, a leading, full-service commercial real estate company, today announced the acquisition of One Clearlake Centre, a Class A, 218,461-square-foot office tower in West Palm Beach, Fla. Located at 250 South Australian Avenue, the 18-story tower sits in the heart of West Palm Beach’s re-emerging downtown core.

“At just 47 percent leased, One Clearlake Centre offers Velocis the opportunity to acquire a well-located, Class A asset at a significant discount to replacement cost,” said Mike Lewis, Velocis principal. “Downtown West Palm Beach is experiencing an urban renaissance that makes this an opportune time to make a value-add investment in the market. A planned, strategic repositioning program will bring this property in line with market standards, increasing its attractiveness to tenants. Having a local joint venture partner in CREC increases our confidence in this building’s potential.”

Plans for the building include a multi-million-dollar capital improvements program, focused on updating the 1980s-era building and implementing an active marketing program. Major upgrades will include new public spaces such as lobbies, corridors and bathrooms, as well as the creation of a modern tenant lounge and conference center. The establishment of multiple spec suites will also cater to market demand for small, move-in ready spaces.
Velocis has partnered with CREC, Florida’s leading, independent, full-service commercial real estate firm, to provide leasing and management services for One Clearlake Centre.

“The acquisition of this high-potential property enhances our growing portfolio of prime assets under the CREC brand,” said CREC President and Co-Founder Carol Greenberg Brooks. “We identified One Clearlake Centre with the foresight to re-introduce a quality product in the Palm Beach submarket, with newly-positioned office lease offerings that will draw substantial interest.”

As one of the tallest buildings in the market, the 18-story One Clearlake Centre affords tenants an ideal location in the heart of Downtown West Palm Beach, with panoramic views of Clear Lake, the city skyline and Atlantic Ocean. Its easy access to and from Interstate 95 provides tenants with efficient ingress/egress, as well as proximity to Clematis Street, CityPlace, the area’s hottest restaurants, shopping and entertainment district, TriRail and the newly-constructed Brightline station.

Built in 1986, the property includes a 5-story, 662-space parking garage. One Clearlake Centre is LEED Silver certified and EnergyStar rated.
CBRE’s Christian Lee and José Antonio Lobón represented the seller. CBRE’s Amy Julian represented the buyer in financing the transaction.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 24 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Principals in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

About Velocis
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at velocis.com.

About CREC
CREC is the leading, independent, full-service commercial real estate company in Florida with offices throughout the state of Florida. Since its founding in 1989, CREC has provided fully-integrated real estate services, including brokerage, leasing, management, tenant representation, receiverships, workouts, as well as debt and equity financing. The company continues to uphold its mission of being “Your Florida Partner” through its commitment to providing clients with unrivaled service and a streamlined approach. Through the years, CREC has built a portfolio of more than 13 million square feet across 100-plus properties throughout Florida. For more information, visit www.crec.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.

SAN ANTONIO, Texas – (July 20, 2017) – Velocis, a private equity real estate manager, through its Velocis Fund II, has purchased Legacy Oaks, a 224,262-square-foot, Class A medical office complex located directly adjacent to San Antonio’s 900-acre South Texas Medical Center.

The seven-building complex, which recently underwent extensive capital improvements, is currently 75 percent leased by a mix of health care providers, including Baptist Health System, MEDNAX, BB&T, and the Center for Healthcare Services.

“This asset is one that checked all of the boxes for us in terms of our value-add investment strategy,” Mike Lewis, principal, Velocis. “The previous owner did an excellent job of laying the groundwork for the property’s long-term success. Building on their momentum, we plan to increase occupancy by providing fresh capital for physical enhancements, tenant improvements, and leasing commissions.”

To unlock value, Velocis plans to implement a refreshed management and leasing strategy with a market-oriented approach enhanced by key physical improvements.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 23 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Principals in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

About Velocis
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. 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.

FALLS CHURCH, Va. – (Feb. 23, 2017) – Velocis, a private equity real estate manager, in partnership with Moore & Associates, a Bethesda, Md. based local sponsor, today announced the purchase of 3120 Fairview Park, a Class-A, 190,110-square-foot office building located in Fairview Park, Metro DC’s only “inside-the-Beltway” corporate office park.

Located at the intersection of I-495 and RT-50, 3120 Fairview Park is adjacent to the 395-room Marriott Hotel, two miles from the amenity-rich, mixed-use Mosiac District, and near the Defense Health Agency and Inova Center for Personalized Health.

“3120 Fairview Park is a true best-in-class asset that is a perfect fit for our acquisition strategy in terms of market timing, building quality and opportunity to unlock hidden value,” said Paul Smith, principal, Velocis. “Working with our local partner Moore & Associates, Velocis has been exploring Northern Virginia for the right value-add opportunity for our third purchase in the market, and we are pleased to have found it in 3120 Fairview Park.”

Situated within a park-like environment, the property features 2.5 miles of trails, three lakes and water features, along with other amenities like a spa-quality fitness center, full-service café and high-end tenant finishes. The LEED certified property also features state-of-the-art building systems and free parking at an above average ratio. The property is 87 percent leased.

Velocis plans to make key building improvements, including adding a tenant-only “Millennial Playground” featuring indoor and outdoor communal areas with seating, games, technology, and opportunities for relaxing. Other property upgrades include improved entryways and a VIP Uber service.

The seller, COPT Fairview LLC, was represented by JLL’s Bill Prutting. The property will be managed and leased by Moore & Associates.
This is Velocis’ third acquisition in Northern Virginia. In 2015, the Fund purchased two assets in the market: Loudon Gateway II and III, two Class-A suburban office buildings in Sterling, Va.’s Loudoun Gateway Business Park, and Shirlington Tower, a Class-A office building in Arlington, Va.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 22 assets located in markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Principals in Fund II are Fred Hamm, Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

About Velocis
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at velocis.com.

About Moore & Associates
Since its founding in 1979, the Moore team has enhanced the value of its commercial real estate investments through proactive management, leasing, and tenant interior construction, strengthening the decades long belief that platform execution drives down risk while increasing overall return.

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.

Fort Worth (Aug. 17, 2015) – Velocis, a private equity real estate manager, has sold Magnolia Medical Tower, an 89,991-square-foot medical office building located in the heart of the Fort Worth Medical District. Ridgeline Magnolia MOB, LP purchased the property for an undisclosed price.

“When we purchased this property, Velocis recognized that it was in need of substantial capital improvements and professional management,” said Jim Yoder, Velocis Principal. “The significant upgrades we implemented took the building from Class C- to B+ and helped increase the leasing velocity at the property.”

Velocis purchased the property in 2012, and invested $1.5 million in property renovations, with substantial upgrades made to all six floors of the building and the parking garage. Renovations included modernizing the building’s elevators and upgrading common areas, applying new corridor finishes, upgraded lobby areas and reconstructing restrooms, as well as signage, mechanical and lighting updates to improve energy performance.

Built in 1985, Magnolia Medical Tower is adjacent to Baylor All Saints Medical Center, offering easy access to Cook Children’s Medical Center, Texas Health Harris Methodist Hospital Fort Worth and Plaza Medical Center of Fort Worth, as well as medical offices in the surrounding downtown medical district.

CBRE’s Lee Asher and Chris Bodnar of the U.S. Healthcare Capital Markets Group partnered with Austin Barrett in the Dallas/Fort Worth market to broker the sale on behalf of Velocis.

Dallas-based Velocis has been active in real estate investment since 2011, purchasing 21 assets located in major markets in Texas, Colorado, Georgia, Florida, Arizona, Virginia and North Carolina. Velocis is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Joining Jim Yoder as principals are Fred Hamm, Mike Lewis, David Seifert and Paul Smith.

About Velocis
Velocis consists of two entities: Velocis Fund, LP and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. Additional information about Velocis can be found at https://www.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.

DALLAS – Velocis, a private equity real estate manager, today announced the successful closing of Velocis Fund II. Equity commitments exceeded $270 million, bringing Fund II assets under management to $400 million.

“We believe our industry experience, relationships and proven ability to unlock value in select real estate assets were integral to a successful Fund II capital raise,” said Fred Hamm, Velocis managing principal. “In the six short years since Velocis was formed, we have raised approximately $415 million, leading to the acquisition of 21 assets across 10 markets. We are grateful for the support of our investors and look forward to continuing our success as we secure assets, create value and maximize the return for our investors.”

The current equity commitments provide Fund II with $775 million in purchasing power, incorporating moderate leverage. Management anticipates raising an additional $50 million of co-investment equity from investors, giving Fund II approximately $920 million in purchasing power. Fund II is currently 27 percent invested and is continuously sourcing new assets for purchase.

Fund II is pursuing a value-add strategy focused on traditional office, medical office, data center and retail properties in select U.S. growth markets. The Fund targets under-managed and distressed assets in the $20 to $70 million range. Fund II has purchased five assets and anticipates securing approximately 20 properties over a three-year investment period.

The Fund is specifically sized to acquire a diversified portfolio of assets that may be too large for individual investors, but too small for many large institutional investors. Investors include high-net-worth individuals, large family offices, and institutional investors in the United States, Mexico and Japan.

Velocis Fund II is led by a team of five seasoned principals who are directly responsible for the acquisition, asset management and disposition of assets. Joining Fred Hamm as principals in Fund II are Mike Lewis, David Seifert, Paul Smith and Jim Yoder.

Velocis has been active in real estate investment since launching Velocis Fund I in 2010. Since then, Velocis has raised approximately $415 million of equity commitments and purchased 21 assets located in Arizona, Colorado, Texas, Georgia, Florida, North Carolina, and the Washington, D.C. metropolitan area.

About Velocis
Velocis consists of two entities: Velocis Funds and Velocis Advisors. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients. 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.