January 18, 2019
HOUSTON, Jan. 18, 2019 — Welcome Group, LLC (“Welcome”) announced today that it has entered into an agreement with an investment fund managed by Almanac Realty Investors (“Almanac”), under which the fund has committed to provide up to $300 million of growth capital to Welcome to expand its investment platform and portfolio of primarily industrial and office assets in Texas.
Based in Houston, Texas, Welcome Group is a full-service real estate development company previously led by Welcome Wilson Sr., who remains the firm’s Chairman and has over 60 years of real estate development experience. Welcome Wilson Jr. is the current President & CEO, and Craig G. Wilson is the firm’s Executive Vice President & Chief Operating Officer.
“We are excited to establish this partnership with Almanac, one that is based on our mutual corporate values and investment strategies,” said Welcome Wilson Jr., President and CEO. “Our new relationship with Almanac will allow us to expand our investment activity focused on acquisitions, build-to-suits, value-add and spec development of quality industrial and office properties in an expanded market not only in Texas but across the United States.”
David Haltiner, Managing Director at Almanac added, “Welcome Group is an established organization with a strong investment track record. The leadership team has significant experience in the industrial and office space and is well positioned to execute on the growth strategy. We are pleased to partner with Welcome, and we look forward to the opportunities ahead.”
About Welcome Group, LLC
Welcome Group, LLC, a Houston-based full-service single-tenant industrial owner and development firm, currently owns over 85 industrial buildings in Texas comprising of approximately four million square feet. Welcome Group specializes in single-tenant office, lab, industrial and manufacturing facilities, and offers Build to Suit and Sale-Leaseback services for new properties. Welcome Group has developed more than 250 single-tenant properties. Welcome Group’s clients include Fortune 500 Companies, locally owned, and a number of international companies.
About Almanac Realty Investors, LLC
Almanac Realty Investors, a New York-based real estate investment firm, is a leading provider of growth capital to public and private real estate companies. From the time of its founding in 1981, originally under the name Rothschild Realty, the group has raised over $6.5 billion related to a wide array of real estate opportunities. Since 1996, Almanac’s primary investment activity has consisted of making private placements into private and public real estate operating companies. To date, Almanac managed funds have committed/invested over $5.3 billion into 42 companies in North America.
Photo Credit: www.AlexandersPortraits.com
« Previous Next »