October 2020
October 2020

Rycore Capital partner with Tracy McGrady acquires Industrial property in Stafford, TX

(HOUSTON, TX) – Rycore Capital, on behalf of a Tracy and CleRenda McGrady, acquired a ~64,000 Class B multi-tenant flex warehouse property in Stafford, Texas. The acquisition was completed through its direct investment advisory business. Mr. McGrady, a former Houston Rocket and NBA Hall of Fame athlete, and CleRenda have formed a new real estate venture to acquire income producing assets in a targeted portfolio approach.

Rycore Capital will provide asset management services to the new venture and advise on operating and financial matters. Mike Navarro of Shackelford, Bowen, McKinley & Norton LLP represented the buyer as legal counsel.

The McGradys are a long-time client of Kafi Slaughter, a Houston based Wealth Advisor for Bank of America Private Bank. Bank of America originated acquisition financing for the transaction as well.

The property is a two building multi-tenant service center offering small bay suites consisting of an office and warehouse component. Built in 2001, the property has historically remained highly occupied by multiple tenants and is expected to remain in high demand.

β€œWe are pleased to have executed on this acquisition, offering Tracy and CleRenda access to an off-market income producing industrial asset. The property fit with the investment objectives and should provide income and diversification benefits”, 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 $200 million 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 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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