Stream Realty
PHP Capital Partners, a Fort Worth-based privately owned investor and operator of industrial real estate properties, has acquired Freeport 7, a single-tenant light industrial property in Irving.
Terms were not disclosed.
Located at 9150 N. Royal Lane, the 56,076-square-foot property is 100% leased to Inspire Event Solutions, a wholly owned subsidiary of Ashford Inc.
“This property checked all of our boxes as we continue to target functional, shallow-bay industrial properties in urban infill areas,” said Pete Van Amburgh, co-founder of PHP Capital Partners, in a statement. “We opted to raise all equity to close this transaction with existing limited partner investors.”
Van Amburgh, Hunter Harrison, and Paul Carr founded PHP Capital Partners in early 2021 to capitalize on increased tenant demand for infill industrial properties throughout Texas. Though the current higher-for-longer interest rate environment offers more challenges in completing deals, Van Amburgh said PHP Capital’s flexible organizational structure allows the company to remain nimble in its purchasing decisions.
PHP Capital's additional acquisitions within the past year include the 56,000-square-foot 3300 Nacogdoches (San Antonio), the 25,000-square-foot 3101 E. Avenue E (Grand Prairie) and the 25,000-square-foot Southwest Business Center (Fort Worth), according to the firm.
PHP Capital also sold the 165,000-square-foot Blue Smoke Business Park in Fort Worth.
“Freeport 7 marks our 19th transaction as a company,” Harrison said. “This acquisition is a great example of the kinds of transactions we are looking for. Despite a very challenging market, we’re hopeful to capitalize on several more opportunities at this point in the cycle.”