CHICAGO, Aug. 27, 2012 /PRNewswire/ -- Brennan Investment Group and DLJ Real Estate Capital Partners, LLC (DLJ-RECP), announced its acquisition of a nine-building industrial portfolio totaling 338,577 square feet in Houston. The portfolio is located primarily in the southwest industrial submarket of Houston, with excellent access to Beltway 8 and Highway 59.
"Houston's emergence from a regional oil and gas driven economy to a global provider of energy services, including engineering, exploration, manufacturing, and finance has transformed the Houston economy into a robust and diverse metropolitan marketplace," said Michael Brennan, Chairman and Co-Founder of Brennan Investment Group. "The benefits to the industrial real estate market are manifested in 11 consecutive quarters of positive absorption and a 94.4% occupancy rate."
"We will commence our value add strategy that includes cosmetic enhancements and an inventory of 'move-in' ready suites for prospective tenants' convenience," said Troy MacMane, Southwest Managing Principal and Co-Founder of Brennan Investment Group. "This acquisition is illustrative of our strategy to acquire functional, well located assets, in major markets with the ability to add value through repositioning and leasing."
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information, go to www.brennaninvestmentgroup.com.
About DLJ Real Estate Capital Partners, LLC
DLJ-RECP is a leading global investment firm focusing on real estate and real estate-related assets. DLJ-RECP was founded in 1995 and has offices in New York, Los Angeles, Hong Kong and Tokyo. DLJ-RECP manages a series of real estate private equity funds with total capital commitments in excess of $4 billion. The DLJ-RECP funds have acquired 180 investments representing approximately $15 billion in gross transaction value throughout North America, Western Europe and Asia.
DLJ-RECP takes a rigorous property-by-property approach to investing. The firm's strategy is to acquire well-located assets with high intrinsic value and to enhance that value through creative repositioning and intensive management strategies.
For more information, go to www.dljrecp.com.
Brennan Investment Group, LLC
2340 River Rd
Des Plaines, IL 60018
Tel +1 847-813-6800
Fax +1 847-257-8888
SOURCE Brennan Investment Group