Stonelake Opportunity Partners III LP, a fund managed by Dallas-based private equity firm Stonelake Capital Partners, has purchased 35 industrial buildings in Dallas, Houston and San Antonio, assembling a $200 million Texas industrial portfolio. Stonelake assembled the industrial portfolio through 11 separate deals over the last 18 months without an operating partner, according to a BizNow report. The 3.1 million square foot portfolio will be the final investment for Stonelake's fund; the company will manage the portfolio in-house to boost the buildings' occupancy and rental rates.
Stonelake said it plans to continue acquiring 50,000-150,000 square foot industrial buildings. According to a Dallas Business Journal report, Stonelake plans to hold the properties for the next three to five years. In Dallas-Fort Worth, the portfolio includes nearly 1.3 million square feet in Valwood, the Great Southwest and the Turnpike submarkets. In Houston, Stonelake has more than 1 million square feet of industrial space. In San Antonio. the firm has acquired more than 750,000 square feet of space. The company — founded in 2007 — has over $2 billion of commercial real estate throughout Texas.
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