LEGGETT VENTURES LAUNCHES NEW COMMERCIAL REAL ESTATE INVESTMENT FIRM, NEW PARTNERS
Real Estate Veterans Form Houston Based Full Service
Commercial real estate investment company with national scope
HOUSTON, March 23, 2022 /PRNewswire/ — Longtime friends and business partners of Houston, John LeggettCEO of Leggett Venturesand Brad Elmoreformer senior vice president of Newquest Properties, today announced the formation of the new commercial real estate investment company, New partners (PNF). The new company, headquartered in Houstondevelops and invests in traditional commercial real estate classes, as well as energy and renewable assets across the country.
“After six years of collaborating on a variety of real estate investment projects, we are thrilled to make it official with the formation of NewFound Partners,” said John Leggett, CEO of Leggett Ventures and co-founder of NewFound Partners. “Leggett Ventures has been an active player in real estate and energy investing over the past decade, and the formation of NFP allows us to expand our footprint in commercial real estate assets.”
NewFound Partners actively invests in development opportunities and income-generating properties in high-growth markets. NFP’s portfolio currently includes office, hotel, industrial, retail, multi-family and mixed-use buildings, as well as solar and battery energy storage developments. NFP leaders have a combined 50 years of experience that they leverage to create and execute data-driven strategies in their investments.
“We will consider any type of property if we see an opportunity to move it to higher and better use. Some of our current projects include the conversion of a filling warehouse into a pay parking lot, the development of two rice paddies at 475 megawatts of solar power and turn a bowling alley into an office building,” said Brad Elmoreco-founder and managing director of NewFound Partners.
NewFound Partners’ latest commercial project, 1106 Witte in the spring branch District, is transformed into a 28,000 square foot office and will be the company’s headquarters. The building is expected to open in the fourth quarter of this year, with approximately half of the building already pre-let and the other half available for rental to third parties.
“A surface parked desk in the Memorial area is quite unique, and it will be fun to turn a cinder block box into a post-modern statement piece. It’s a bit too early to share details, but guaranteed. to be cool and unique office space,” added Brad.
About NewFound Partners:
A Houstoncommercial real estate company specializing in the investment and development of opportunistic real estate projects across the United States. Co-founded by Brad Elmore and John LeggettNewFound Partners’ portfolio includes office, hotel, industrial, retail, multi-family and mixed-use properties, as well as solar and battery energy storage developments.
About Leggett Ventures:
A HoustonPrivate equity firm based in Paris and specialized in real estate and energy investments. Over the past decade, Leggett Ventures has sourced and managed a multitude of investment opportunities in the real estate and energy sectors, including portfolio companies: On Point Custom Homes, Frontier Title, Cannon Field and newly formed NewFound Partners. With a focus on hands-on management, the Leggett Ventures team has over $100 million in assets under management.
SOURCE New Partners