TMCnet News
Three Pillars Capital Completes Massive Multi-Property Acquisition next to NRG Stadium with Estimated Value of $100MThree Pillars Capital, a young and successful Houston based private equity firm, just completed a massive 3-property multifamily portfolio acquisition rumored to be valued at $100M. Combined, the NRG Portfolio comprises of three properties totaling almost 700 units and are located in an opportunity zone, that of the rapidly growing Texas Medical Center, directly neighboring the iconic NRG Stadium. Residents will have instant access to the country's finest cancer treatment facilities, the Houston METRO Rail Line to Downtown, the bustling Rice Village Plaza, and of course the aforementioned NRG Stadium, home of the Houston Texans. This press release features mltimedia. View the full release here: https://www.businesswire.com/news/home/20201029006353/en/ 
Founder & Managing Principal of Three Pillars Capital, Josh Welch. (Photo: Business Wire) Josh Welch, CEO of Three Pillars Capital, declined to confirm the transaction value. When asked how Three Pillars was able to complete this acquisition, Mr. Welch said that the company's strength is in its ability to raise tens of millions of dollars in capital in a very short period of time. Three Pillars' strategy specializes in management turnaround of struggling assets as well as complete interior & exterior renovations. "We are vertically integrated. All asset management, property management, construction & heavy renovations are done in-house. We do not use 3rd party services or contract work out. It's not our style. Our operation is very complicated, but the end result is that it creates a lot of value for our investors." The company prides itself in providing high quality housing to the market. "We want people to know that they have walked into their dream apartment when they are out shopping for a new home. There are many real estate firms, big and small. We strive to do things differently and be creative - that's the only way to bring a lasting change and performance. We love trying new things and experiments. One thing Jeff Bezos said really well "take small bets and experiments, but not one that bets the farm", said Mr. Welch. While the details regarding this exciting new acquisition currently remain scarce, the future for Three Pillars Capital is only brighter. About Three Pillars Capital Group Three Pillars Capital Group is a vertically integrated Houston-based real estate private equity firm with over two decades of combined experience in acquisitions and asset management. With more than $165M in assets under management. From a track record standpoint, Three Pillars has been aggressively making distribution to investors, refinancing properties and returning capital. In a yet to be announced transaction, Three Pillars returned almost 75% equity to investors in less than 19 months. "Our goal is to keep returning and recycling investor capital so they can redeploy their funds in future projects and grow their net worth."
View source version on businesswire.com: https://www.businesswire.com/news/home/20201029006353/en/ |
