Velocis Purchases Two Niche Trophy Office Properties in Houston

HOUSTON–(BUSINESS WIRE)–

Velocis, a commercial real estate investment fund, and its investors
have purchased nearly 190,000 square feet of Class A office space in
Houston’s prestigious Hedwig Village. The pair of niche trophy office
properties, 950 and 952 Echo Lane, are the Fund’s sixth and seventh
acquisitions. Jones Lang LaSalle Managing Director Rudy Hubbard and
Associate Kevin McConn brokered the transaction on behalf of the seller,
Houston Mark I Properties, LTD.

“The buildings’ premier addresses and unique characteristics, combined
with the upward trend of Houston’s rental market, made this a great
acquisition opportunity,” said Mike Lewis, Velocis principal and
co-founder. “As with each property the Fund purchases, these assets were
carefully vetted to assure the purchase met our investment strategy and
offers an excellent opportunity for our investors.”

Both 950 and 952 Echo Lane are situated on 3.8 acres of wooded land and
boast distinct characteristics including a stained glass ceiling atrium
and four-story marble grand staircase. The properties are located in the
upscale Hedwig Village, featuring one of the most impressive addresses
in Houston. They are currently 90 percent occupied.

“These properties offered Velocis Partners an opportunity to capitalize
on Houston’s constricted supply of new construction, with upside
potential as availability of space diminishes in the region.
Additionally, Houston’s Energy Corridor office market has achieved some
of the highest rental rates in the region,” said Rudy Hubbard, JLL
Managing Director. “At the end of 2011, Class A rates peaked at more
than $30 per square foot, up 16 percent annualized since the downturn in
2008.”

The Fund, which currently has more than $157 million assets under
management, owns office, medical office, and retail real estate assets
in demand driven/supply constrained markets.

This purchase is the Fund’s second in the Houston market. Velocis owns
another office building in Houston, 7700 San Felipe, a
100,716-square-foot office building, which it purchased in September
2011.

Other buildings in the Velocis portfolio include two medical office
buildings: Magnolia Medical Tower, an 89,727-square-foot medical office
building in Fort Worth, Texas, purchased in May 2012 and The Jefferson,
a 97,552-square-foot medical office building in Austin, Texas, purchased
in March 2011. The Fund also purchased the iconic 112,117-square-foot
Fort Worth retail center, Ridglea Village, in October of 2011. The Fund
most recently purchased Greenwood Centre, a 76,085-square-foot office
building, in Denver’s Greenwood Village and has additional purchases in
the acquisition pipeline.

Velocis is led by co-founders and managing directors, Fred Hamm, Mike
Lewis, Steve Lipscomb and Jim Yoder. The firm focuses on the acquisition
and management of investment properties in the $15 million to $55
million range. In addition to the fund, Velocis offers real estate
brokerage and advisory services to better serve both investors and real
estate clients.

About Velocis Partners, LLC

Velocis is made up of three entities: Velocis Fund, Velocis Advisors and
Velocis Real Estate. Velocis Fund is a commercial real estate investment
fund, active in the acquisition, operation/management, and disposition
of commercial real estate in the U.S. Additionally, Velocis Advisors
division provides asset management and advisory services to third-party
owners, and Velocis Real Estate provides real estate brokerage services.
Additional information about Velocis Partners can be found at http://velocis.com/.

About Jones Lang LaSalle

Jones Lang LaSalle (JLL) is a financial and professional services
firm specializing in real estate. The firm offers integrated services
delivered by expert teams worldwide to clients seeking increased value
by owning, occupying or investing in real estate. With 2011 global
revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70
countries from more than 1,000 locations worldwide, including 200
corporate offices. The firm is an industry leader in property and
corporate facility management services, with a portfolio of
approximately 2.1 billion square feet worldwide. LaSalle Investment
Management, the company’s investment management business, is one of the
world’s largest and most diverse in real estate with $47 billion of
assets under management. For further information, please visit www.joneslanglasalle.com.

Sunwest Communications
Leigh Mundinger, 214-373-1601
[email protected]

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