Rycore Capital Completes Sale of Multi-Tenant Medical Office Building

(HOUSTON, TX) Rycore Capital, on behalf of Tracy and CleRenda McGrady, sold a ~38,000 Class B multi-tenant medical office property in Humble, Texas. The sale represents a 26% premium to the acquisition cost in 2020. Michael Navarro and Adrienne Collins of Kane, Russell, Coleman, Logan PC represented the seller as legal counsel. The McGradys are a long-time client of Kafi Slaughter, a Houston based Wealth Advisor for Bank of America Private Bank.  The property is two-story multi-tenant office building with an array of medical providers serving the surrounding Humble area.

“We are pleased to have completed the sale of Park Lakes Professional Building. We acquired this asset during COVID-19, and executed a spec leasing plan that create value to the property. We are happy with the outcome to exit the investment at an attractive 26% increase in value”, said Ryan Urech, Founder and CEO.

About Rycore Capital LP
Rycore Capital LP (the “Firm”) is a Houston-based real estate investment manager with approximately $375 million gross AUM, focused on acquiring, leasing and managing income producing properties that deliver superior real estate solutions to our tenants while providing our investment partners with some of the most consistent value-add, core-plus and core returns. The Firm offers two investment platforms to investors: Fund Management and Direct Investment Advisory. The Firm aims to provide a solution with its institutional quality real estate investment management process to high net worth, family office and institutional investors. For more information regarding Rycore, visit the Company’s website at www.rycorecapital.com.



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