Bill Larkin, acquisition and development manager for the NewportBeach-based buyer, says the northwest Houston purchase representsgeographic diversification for the investment group, whichtypically has been focused on West Coast states. The new investmentalso is in an area that has good growth potential. "The size of theportfolio is a good foothold in the market," he says. "It also fitsour product type, which is generally focused on small tenants."

Larkin tells GlobeSt.com that the buildings will requireupgrades and enhancements, but no major renovations. Additionally,he sees upside in the rent growth in the 1980s-era mix ofbuildings.

The portfolio's assets are within 10 miles of each other. Thepackage includes the seven-building, 176,864-sf Westport BusinessCenter on 9.8 acres at West Loop 610 and Interstate 10 andtwo-building, 62,210-sf Westway Business Center on 3.69 acres onBeltway 8 between Interstate 10 and US Hwy. 290. The buyer also gota stake in Pinemont Business Park: the 54,740-sf, two-buildingPineway Business Center on 5.5 acres at the intersection ofHempstead Highway and Pinemont Drive and the 86,196-sf,two-building Pinehill Business Center on 4.2 acres on ClayRoad.