July 10, 2018
NAI Partners’ Investment Fund II acquired its first property, nabbing the 73,105-square-foot, mixed-use San Marcos Place. The asset at 900 Bugg Lane in San Marcos, represents the fifth transaction completed in the past year by NAI Investment Fund, which is NAI Partners’ private equity arm.
San Marcos Place is a four-building property with offices and retail space. The asset is 84% occupied to a roster of national and local credit tenants, including Pizza Hut, Half-Price Books, and Nationwide Insurance.
Andrew Pappas and Adam Hawkins of NAI Partners’ Investment Fund sourced, negotiated, and closed the transaction. The seller is listed at Robb Lane Ltd., which is tied to Weitzman. NAI partnered with Peyton Jones of Green Bank for debt financing, with equity funded exclusively by NAI Investment Fund II. Cathy Nabours of HFF represented the seller.
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