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IN-DEPTH: Velocis makes 15th acquisition since inception
Velocis Partners has purchased Town Center Colleyville, a 138,000-square-foot shopping center in Colleyville, Texas.
Velocis Partners, a Dallas-based real estate investment fund, acquired the property for an undisclosed amount. The firm plans to spend money upgrading the center. The transaction was made on behalf of Velocis Fund, the firm’s debut core-plus fund. The deal was announced in March. The new retail center marks the firm’s 15th acquisition since the company started in 2010.
Charles M. Hodges and Robert M. Farrell were the sellers. JLL brokered the sale.
The Colleyville shopping center was built in 2007. It is anchored by tenants including Studio Movie Grill theater, Indigo Grill and grocery story Market Street.