A Houston real estate attorney has launched an investment fund to develop and acquire properties with ties to the energy sector and the new fund, Mesa Real Estate Partners, has already purchased 28 properties worth $75 million in Texas, Arkansas, Oklahoma, Louisiana, Pennsylvania and North Dakota for the most of the assets 1.1 million square feet in total are industrial or commercial buildings leased to tenants involved in the emerging shale regions across North America to the buildings are in Houston, but many of the companies that lease space in the buildings are based here.
Tim Horan, a Houston-based real estate attorney and president of the fund, expects Mesa to grow to $250 million in the next few years and all these shale plays are proliferating, Horan said, as new areas come on stream, the service companies all flock there and need real estate facilities to house their people and to the oran would like to take the company public as a real estate investment trust in four or 5 years to that would be one of our exit strategies, he said.
Horan raised $100 million from 58 investors, most of whom are current and former oil field service company executives in the investors include Philip Burguieres, John Huff, energy investment bank PPHB, Palmetto Partners and B-29 Investments, a private investment firm owned by John and Steve Schmitz of Gainesville and to the fund is also pursuing about a dozen new development deals.
Tim Horan, a Houston-based real estate attorney and president of the fund, expects Mesa to grow to $250 million in the next few years and all these shale plays are proliferating, Horan said, as new areas come on stream, the service companies all flock there and need real estate facilities to house their people and to the oran would like to take the company public as a real estate investment trust in four or 5 years to that would be one of our exit strategies, he said.
Horan raised $100 million from 58 investors, most of whom are current and former oil field service company executives in the investors include Philip Burguieres, John Huff, energy investment bank PPHB, Palmetto Partners and B-29 Investments, a private investment firm owned by John and Steve Schmitz of Gainesville and to the fund is also pursuing about a dozen new development deals.
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