Dallas Real Estate Investment Firm Launches With an Eye on $100M Class A Office Properties » Dallas Innovates

December 16, 2021 Beth McCandry

[Image: Apricus Realty Capital]

A new real estate investment and operating company was founded in North Texas by a trio of local executives with decades of experience as owners, operators and leasing specialists.

Apricus Realty Capital – named after the Latin adjective aprika, which means “warmed by the sun” – is a boutique CRE investment firm focused on institutional quality real estate. Apricus aims to acquire Class A offices that are based on $ 100 million or more per transaction.

The group currently focuses exclusively on the major Texas markets: Dallas-Fort Worth, Austin and Houston.

“We are becoming highly specialized in buying properties that we know we can add value,” said Kathy Permenter, general manager and managing partner of Apricus, in a statement. “We know what it takes to do business in the Texan market and have a thorough understanding of what tenants are looking for in their office experience.”

Run – and launched – by industry veterans

Kathy Candy

Permenter previously ran Dallas-based Younger Partners, a full-service commercial real estate company that manages more than 8 million square feet of retail, office, real estate and commercial real estate. Since 2012 she has been co-managing director of Moody Younger, who joined her as a further principal and managing partner in the introduction of Apricus.

Apricus will be connected to the Younger Partners operating platform – a relationship that will enable the new company to “provide operating and leasing expertise and market knowledge that few can offer”. Younger Partners offers investment, leasing and administration services to investors and tenants across the region.

Atmospherically younger

Younger and Permenter plan to split their time between Younger Partners and Apricus.

The third member of the team is Matt Haley, the former Executive Vice President of Miller Global Properties and Managing Director of Pearlmark Real Estate Partners (formerly Transwestern Investment Company). He is also a Principal and Managing Partner at Apricus.

Haley’s experience includes serving comeled equity funds, investment strategies and investor relations. He was responsible for leading more than $ 9 billion in wealth transactions.

Matt Haley

According to the team, their extensive investment and operational expertise, as well as their knowledge of the Texas market, will add value to office properties that have traditionally been viewed as high risk. Overall, their track record includes commercial real estate, market research, investing, leasing and management.

“We are focused on creating a better office property experience from the time of purchase, through the daily tenant experience, to the entire office environment, ultimately to deliver better returns to our investors,” Haley said in a statement. “There are few, if any, privately run, entrepreneurial real estate investment firms that have as complementary skills as Apricus will consistently do for class A office space.”

Permenter said the team plans to buy well-located properties that “create the feeling of space that is so important to tenants”.

Apricus, which recently completed raising its first GP capital fund, is already actively looking for multiple acquisitions, according to the team.

The company plans to expand its portfolio in the future. This can be retail and industrial real estate or the raising of additional subscribed funds from private individuals and institutional donors.

“At Apricus today we are ready to make the necessary investments,” said Younger, “be it with a current owner looking to exit or the capital needed for amenities and improvements to better position a property . “

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