Buchanan Street Partners purchased Kirby Interchange, a 293,000-square-foot, eight-building flex/office project in Houston, TX. The property, which is 80% leased, was sourced off-market and is located three miles south of Texas Medical Center, which is the largest medical center in the world.
Buchanan upon closing will execute a substantial capital improvement plan to upgrade the exterior of the buildings, enhance security throughout, activate common area spaces, improve signage identity while addressing any deferred maintenance items.
There is a strong push from the Texas Medical Center to make Houston a “third coast” for life sciences, sites Matt Haugen, Vice President of Buchanan Street Partners. Buchanan feels that due to the proximity of the Property to Texas Medical Center and the need for highly improved life science and medical lab space the property’s conversion over time is ideally positioned as a future life science campus.
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a real estate investment management firm based in Newport Beach, California that focuses on value-investing in both commercial and multifamily direct ownership and in making debt investments. The Buchanan team has invested through multiple real estate cycles, enabling them to identify opportunities and maximize value while prioritizing principal preservation.