Darrell L. Betts,, the company's new chief investment officer and president of its Middle East Fund, says the immediate focus is on the acquisition of a trophy office asset in Houston. The Irvine, CA-based Thompson National Properties has leased office space at 1330 Post Oak Blvd.
Houston was chosen as the Texas field site because it is gaining a solid reputation among investors. "Because of the domestic and international partners we have, Houston was the logical choice," comments Betts, who will oversee national acquisitions activities with founder Tony Thompson.
Although Betts couldn't provide much information about acquisitions equity or the Middle East Fund due to SEC regulations, he tells GlobeSt.com that Thompson wants to build a nationwide portfolio of office, retail and industrial assets as well as land developments.
Thompson Properties also has offices opening in Denver and Las Vegas. In Houston, Jessica S. Alexander is Betts' senior analyst of research. Lain Cimarosti Porter has been hired as senior analyst of operations. Betts says he definitely wants to grow the local staff.
Betts' long-time partner and Grubb & Ellis Co. senior vice president Scot C. Farber won't be coming on board. "We had a great partnership together, but Scot will remain on the brokerage side," Betts says. "We'll look forward to doing future deals with him."
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