October 8, 2018
NAI Investment Fund divested one building of the two-building, 76,409-square-foot Spring Park Village. Specifically, the fund sold a 10,433-square-foot building to an unnamed buyer less than a year after buying the retail center at 19752 North Fwy. in Spring, TX, north of Houston. The other building is remaining with the seller.
Andrew Pappas and Adam Hawkins of NAI Investment Fund worked with Todd Carlson of Hunington Properties to close the deal, and partnered with Peyton Jones at Green Bank to close refinancing on the remaining building.
Pappas said that critical renewals were negotiated throughout the fund’s hold period, resulting in “a successful exit for our investors. We look forward to generating additional value for the shopping center, and capitalizing on development opportunities with the raw land pad.”
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