BKM Capital Partners has recently acquired West Belt Business Park, a five-building industrial park located in Houston’s Westchase submarket. The property, totaling 260,887 square feet, was purchased for $34.1 million from Longpoint Realty Partners.
To finance the acquisition, BKM secured a $27 million bridge loan through LoanCore Capital with a maturity date set for 2027. According to Commercial Edge reports, this is not the first time that the industrial park has changed hands in recent years; it was previously sold by Triten Real Estate Partners to Longpoint Realty Partners in 2021.
The business park consists of five one-story buildings built back in 1978 and is situated at two addresses: 10611 and 10641 Harwin Drive. BKM bought the property at a significant discount of approximately 41% below replacement cost and plans to invest an additional $3.3 million into capital improvements.
Currently fully leased with an average lease term of just under three years (2.9), West Belt Business Park presents as an attractive investment opportunity for BKM Capital Partners.
During negotiations between buyer and seller representatives JLL’s Charlie Strauss , Lance Young , and Clay Anderson represented Longpoint Realty Partner s .
