HOUSTON, TX / ACCESSWIRE / October 1, 2019 / Fifth Corner (www.fifthcorner.com) announces that it has completed its investment into a joint venture that acquired The Mix at Midtown ("The Mix") in Houston, Texas. The Mix is a fully-leased Class-A retail property totaling 72,901 square of improvements and a 296-parking space structured garage that serves as an anchor in Midtown - Houston's destination and neighborhood of choice for young professionals due to the area's walkability, public transportation options, outdoor space and proximity to Houston's key employment centers. The property encompasses a full city block bordered by Elgin Street, Louisiana Street, Milam Street and Stuart Street. The Mix was acquired in a joint venture with Pointer Real Estate Partners and is the seventh property investment for Fifth Corner Property Fund I, LP ("the Fund") since the closing of its initial capital commitments in February 2018.
The Mix is comprised of approximately 72,901 square feet of improvements situated on 1.4 acres, connecting residents to the two largest employment centers in the city - Downtown Houston and the world-renowned Texas Medical Center. The property has excellent access to Interstates 69, Interstate 45 and METRORail's red line - Houston's preeminent light rail line runs through Houston's "innovation corridor" and directly adjacent to the new ION, Houston's premier innovation hub. Due to the tremendous growth and revitalization Midtown has experienced over the last few years, The Mix has attracted best in class retailers such as 24-Hour Fitness, Gen Korean BBQ, Piola Pizzeria, Jinya Ramen Bar, Kung Fu Tea, Artisans Restaurant and Cloud 10 Creamery.
"We are excited to be investing in Midtown - Houston's primary ‘24/7' district" says Chad Braun, Co-Founder and Managing Partner at Fifth Corner. "With one of the highest walk scores (86) in Houston, proximity to nine Fortune 500 company headquarters, the second largest theater district in the United States and the world's largest medical complex, we are excited about the potential of this property and the opportunity to create value for investors".
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] or Tenel Tayar at [email protected].
ABOUT POINTER REAL ESTATE PARTNERS
Pointer Real Estate Partners is a Houston-based real estate company managed by Stephen Ghutzman and Matthew Ueckert.
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.
SOURCE: Fifth Corner