HOUSTON, TX / ACCESSWIRE / June 14, 2018 / Fifth Corner (www.fifthcorner.com), founded by industry veterans Tenel Tayar, Chad Braun and Kerr Taylor - the former senior executive management of AmREIT (AMRE), announces that it has closed on its initial round of capital commitments, acquired its first two properties within its Fifth Corner Property Fund I, LP ("the Fund"), and hired industry leaders Tim Ng and Brad Blazar.
The capital commitments will allow the Fund to continue to acquire high-quality retail and mixed-use assets on Irreplaceable CornersTM. The initial properties continue the Irreplaceable Corner™ strategy that is location driven with superior demographics. The properties in Sugar Land, Texas and the Washington corridor in Houston, Texas total approximately 39,000 square feet. Tenants at the centers include Memorial Hermann, Five Guys Burgers and Buffalo Wild Wings. Leasing of the centers is provided by Bruce Wallace and Radkey Jolink of CBRE.
Fifth Corner is executing the time-tested strategy that has been honed over three decades. The Fifth Corner investment strategy focuses on demographic affluence, density of population, demand generators, desirability, and demarcation to create value on its Irreplaceable Corners™.
"We are excited about the launch of Fifth Corner Property Fund I," says Tenel Tayar, Co-Founder and Managing Partner at Fifth Corner. "We have established a sustainable platform that is designed to create value for investors through various real estate cycles and market transformations because our strategy is focused on both people-driven and location-driven fundamentals."
The Fund has two additional properties under contract in Fifth Corner's target markets. The anticipated closing dates are third quarter 2018.
Tim will play an integral role in acquisitions and asset management. He is an industry veteran with over 15 years in the real estate community. His latest role was with EDENS and AmREIT, where he was working on one of the highest quality retail portfolios in the Country for nearly 12 years. He has led or participated over $1 billion of commercial real estate transactions including acquisitions, dispositions and debt financings.
Brad will be charged with helping to raise capital to fuel Fifth Corner's growth. He has been involved in sales management, raising capital, and managing the capital markets efforts for real estate firms including Bluerock, Waypoint Residential and SmartStop Asset Management. Over the course of his career, he has raised in excess of $1.9 billion through his efforts and the efforts of teams he has led.
"We are thrilled to add Tim and Brad to the Fifth Corner family and are confident they will make an immediate contribution to the Company," said Chad Braun Co-Founder and Managing Partner at Fifth Corner. "Each of these gentlemen possess the 5C culture that defines Fifth Corner: Core Values, Character, Competency, Communication and Community Building."
ABOUT FIFTH CORNER
Fifth Corner is a Houston-based real estate company comprised of local sharpshooters investing and creating value on Irreplaceable CornersTM - retail and mixed-use properties in targeted urban and emerging urban submarkets. For more information, please visit their website at www.fifthcorner.com or contact Chad Braun at [email protected].
Statements included herein that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. Such statements, by their nature, involve known and unknown risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied by these statements.
FOR MORE INFORMATION CONTACT:
Chad Braun: 281-251-5550
SOURCE: Fifth Corner