Thompson National PropertiesLLC

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Betts' hiring comes just weeks after former Grubb & Ellischairman and former Triple-Net Properties LLC founder Tony Thompsonlaunched a company to specialize in value-add investments and assetmanagement for high net-worth investors. In his new position, Bettswill be responsible for acquisitions as well as sourcing capitalfor Thompson National Properties' Middle East Fund. Betts' newoffice will be at 1330 Post Oak Blvd. in Houston's Galleriasubmarket.

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"I am excited to be a partner with one of the most successfulreal estate investors of the past two decades, Tony Thompson,"Betts says in a press release announcing his appointment. NeitherBetts nor Thompson could be reached for comment by deadline.

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The 20-year veteran was senior vice president of Grubb &Ellis' institutional investment group and a long-time partner ofScot Farber, his counterpart in the brokerage house's Dallasoffice. During his career, Betts has closed more than $5 billion ofreal estate transactions, predominately office sales.

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"This is a great opportunity for Darrell and we look forward todoing business with him in the future," Randy Moore, executive vicepresident and regional managing director in Houston for Grubb &Ellis, tells GlobeSt.com. "We're hoping he'll be as strong a clientas Tony Thompson has been for us in the past."

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