AUSTIN, Texas, June 12, 2013 (GLOBE NEWSWIRE) -- World Class Capital Group, LLC (http://www.wccapitalgroup.com/), an Austin-based private investment firm, announced today that it has closed on two major acquisitions in the last week. World Class acquired North Oaks Shopping Center, a 450,000 square foot retail center in Houston, Texas, as well as Andrita Media Center, a 110,000 square foot creative office and studio building in Los Angeles, California.
North Oaks Shopping Center includes major retailers such as TJ Maxx, Ross Dress for Less, Hobby Lobby, Big Lots and Staples. The property is 92% occupied and is located in a densely-populated area in Northwest Houston at the intersection of FM 1960 and Veterans Memorial Drive. The property was purchased from a national retail REIT.
"We are pleased to add North Oaks to our growing national retail portfolio," said Nate Paul, President and CEO of World Class Capital Group. "The property is located in a highly-trafficked retail hub and has a strong tenant roster with exceptional performance history. We feel strongly about the outlook for Houston retail and will continue to acquire assets in the Houston MSA."
Andrita Media Center primarily serves as a studio and production/broadcast facility for several television shows and features a combination of office, production, broadcast and studio space. The space is 100% leased to an international entertainment conglomerate. Located just south of the prestigious Tri-Cities market, Andrita Media Center enjoys quick and easy access to Burbank, the global center of the film and entertainment industry and the largest television and radio broadcast market in the country.
"Andrita Media Center provided us the opportunity to make a strategic buy on a high-quality asset and enter the Southern California market," Paul said.
These acquisitions mark two key additions to World Class Capital Group's rapidly growing national real estate portfolio. World Class now owns and operates real estate assets in 12 states and 23 markets.
About World Class Capital Group, LLC
World Class Capital Group, LLC is a leading private real estate investment firm based in Austin, TX. The firm pursues opportunities in all U.S. markets and has a distinct focus on value-add and core plus real estate investments. World Class targets investments across a broad range of asset types through single-asset and portfolio acquisitions and is also an active acquirer of real estate debt.
WCCG's primary focus is the acquisition of complex or undervalued real estate assets with the opportunity to create value through repositioning, redevelopment or leveraging its exceptional property and asset management platform to create operational efficiencies. WCCG's portfolio includes investments in office, retail, industrial, multifamily, self-storage and land. Please visit our website for more information: www.wccapitalgroup.com
CONTACT: Danielle Leggett firstname.lastname@example.org 512-327-3300
Source:World Class Capital Group, LLC