Interra Capital Group Successfully Closes on the Acquisition of Remington Square

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Nov 07, 2024, 11:30 ET

HOUSTON, Nov. 7, 2024 /PRNewswire/ -- Interra Capital Group, a leader in commercial real estate investments, is pleased to announce the successful acquisition of Remington Square, a distinguished three-building class A office portfolio strategically located in Houston, Texas. The financial terms of the transaction remain undisclosed, underscoring the private nature of this significant real estate deal.

Jack Polatsek, CEO of Interra Capital Group, expressed his enthusiasm about the acquisition, stating, "Closing on Remington Square comes at a pivotal time when we see a strengthening trend of return to office that aligns with the Federal Reserve cutting their benchmark rates, enhancing the intrinsic value of well-located office properties. This property represents not just an investment in real estate but an opportunity to capitalize on market dynamics that favor well-positioned assets like Remington Square."

Judah Westreich, Chief Financial Officer at Interra Capital Group, also shared his insights: "This acquisition reflects our strategic initiative to enhance our portfolio's quality and performance. Remington Square stands out as a prime example of the type of asset that can deliver robust returns in the current economic climate, where discerning investment and proactive management are key."

Anita Kundaje, Director of Acquisitions at Interra Capital Group, highlighted the company's strategy in the real estate market. "Interra is decisively in acquisition mode, aggressively pursuing opportunities to expand our portfolio with assets that demonstrate significant upside potential and strategic value," said Kundaje. "We are actively seeking properties that align with our rigorous criteria for sustainable growth and investment returns. Our recent acquisition of Remington Square is a testament to this focused approach, as we continue to capitalize on favorable market conditions to enhance our holdings."

About Remington Square Remington Square is a premium office complex totaling 392,357 square feet across approximately 16.96 acres in Houston, Texas. It serves as a hub for diverse businesses, featuring state-of-the-art amenities such as an on-site restaurant, a modern fitness center, tenant lounges, and ample parking with a ratio of 4.57/1,000 SF. Its strategic location affords excellent regional accessibility and proximity to Houston's rapidly growing residential areas, making it a coveted location for existing and prospective tenants.

About Interra Capital Group Interra Capital Group is a prominent real estate investment firm specializing in the acquisition and management of commercial properties across the United States. Interra is committed to creating value through strategic investments and diligent asset management.

SOURCE Interra Capital Group