Optimal Sale Timing Coincides with Goals Met

Echo Lane is a 189,162-square-foot class-A office complex located at 950 and 952 Echo Lane.

HOUSTON—Timing is everything and a recent disposition in the upscale Hedwig Village is proof of that. Dallas-based private equity real estate manager Velocis recently sold Echo Lane, a 189,162-square-foot class-A office complex located at 950 and 952 Echo Lane. 800 Builders purchased the property for an undisclosed price.

“When we purchased Echo Lane, we saw a great opportunity to invest in a property with not only a premier address, but also unique characteristics,” said Mike Lewis, partner of Velocis. “As with all of our investments, our goal was to identify and unlock value in the property. With Echo Lane, our understanding of the local market, along with some patience and restraint, played a major role in our ability to increase occupancy and raise rental rates with minimal investment, and ultimately, dispose of the asset at the optimal time.”