Randol Mill Service Center in Arlington is one of three properties PHP Capital has acquired. A new Fort Worth-based commercial real estate firm is kicking off its operations with the purchase of three North Texas industrial properties. PHP Capital Partners just launched as a privately owned investor and operator […]
A new Fort Worth-based commercial real estate firm is kicking off its operations with the purchase of three North Texas industrial properties.
PHP Capital Partners just launched as a privately owned investor and operator of industrial buildings. The company was started in January by Pete Van Amburgh, Hunter Harrison and Paul Carr to take advantage of the growing demand for Dallas-Fort Worth industrial properties.
“Prior to the pandemic, we were already seeing increased investor demand within the light industrial space, especially in the major Texas markets and the greater Southwest,” Harrison said. “A year later, that activity has increased substantially as investors and users alike look to benefit from the growth of this asset class due to its importance within the post-COVID economy.”
PHP Capital’s first three acquisitions were all off-market transactions.
The purchases include Randol Mill Service Center, a 96,124-square-foot light industrial property at 2400-2460 E. Randol Mill Road in Arlington; Northridge Business Center, 37,400-square-foot industrial property at 2002-2006 N. State Highway 360 in Grand Prairie; and The Courtyard at Midway, a 61,260-square-foot light industrial property at 7415 Whitehall St. in Richland Hills.
Company officials say they have more deals in the pipeline and are encouraged by the initial purchases.
Van Amburgh said the partners saw “the potential of forming a company around aggregating and operating a portfolio of these types of assets, but admit we took a big leap in an uncertain time.”
“You must act fast and trust each other’s strengths to succeed in such a competitive environment. Just a few months in, it’s looking like we’ve made the right call, and we’re very excited about the future of PHP as we have a big appetite for more acquisitions in this space,” Van Amburgh said in a statement.
Van Amburgh was previously a vice president of development with developer KDC. Harrison was vice president with investor Fort Capital and Carr was a senior investment analyst with NorthMarq Capital.
All three are in their 30s and said they hope to create a lasting, next-generation commercial property firm in North Texas.