Partners Capital, the investment platform of Partners Real Estate Company, recently acquired Oak Hill Plaza in Austin. The 115,512-square-foot retail center is the second property purchased by Partners Capital through its Fund IV vehicle, following the addition of Murphy Southwest Business Center in Stafford.
“Oak Hill Plaza sits at an irreplaceable location in one of the country’s top-performing real estate markets,” said Andrew Pappas, managing director of Partners Capital. “We saw a chance to add significant value to Oak Hill Plaza by leveraging our knowledge and experience in the Central Texas retail market and capitalizing on the submarket’s tight restrictions on new supply.”
Oak Hill Plaza is located at the corner of US-290 and SH-71, an intersection forecasting 100,000 vehicles per day in the coming years.
Adam Hawkins, vice president for Partners Capital, worked with Sam Affanhe of Hunington Properties to source the deal off-market. Financing was provided by Peyton Jones at Veritex Bank.
Wes Babb, Adelaide Ehrlich and Carson Hawley of SRS Real Estate Partners will manage leasing and NAI Partners’ landlord group will handle property management.