{"id":1004144590,"date":"2016-05-22T23:41:32","date_gmt":"2016-05-23T07:41:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004144590"},"modified":"2020-05-17T23:20:26","modified_gmt":"2020-05-18T07:20:26","slug":"mumtalakat-partners-with-regent-on-250m-office-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mumtalakat-partners-with-regent-on-250m-office-portfolio\/","title":{"rendered":"Mumtalakat Partners with Regent on $250M Office Portfolio"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/p>\n

\"Eric<\/a>

Eric Fleiss, Regent Properties<\/p><\/div>\n

Los Angeles<\/strong>\u2014Bahrain Mumtalakat Holding Co.<\/a> has acquired an interest in a $250 million existing portfolio of high-quality commercial real estate assets in the U.S., currently managed by Regent Properties<\/a>.<\/p>\n

\u201cWe have been looking for international investors as a way to diversify our investor base for some time,\u201d Eric Fleiss, Regent Properties\u2019 president, told Commercial Property Executive<\/a>. \u201cMumtalakat\u2019s entrepreneurial spirit was very attractive to us and very much in line with our own culture and contrarian approach to investing in real estate.\u201d<\/p>\n

The portfolio is comprised of substantially leased, income-generating Class A office buildings in the Phoenix and Dallas areas. All the assets in the transaction have excellent freeway accessibility, a myriad of walkable amenities, high parking ratios and close proximity to executive and workforce housing.<\/p>\n

\u201cThis makes them very different from many investors\u2019 conceptions of office properties in the Sunbelt only being in barren, isolated and dated corporate parks,\u201d Fleiss said. \u201cEach building has substantial \u2018creative office\u2019 interior tenant improvements with open ceilings, open workspaces, and modern \u2018tech company\u2019 improvements\/amenities that one would expect to find in San Francisco or the West Village.\u201d<\/p>\n

Additionally, the portfolio demonstrates the substantial diversification of industries and tenant base in Phoenix and Dallas that are hard to find in many other markets in the U.S.<\/p>\n

According to Fleiss, the driving philosophy behind all of Regent Properties\u2019 investments is its willingness to pursue a contrarian strategy by acquiring complex or distressed assets often in out-of-favor markets.<\/p>\n

\u201cFor example, in 2010, when we bought many of these properties in the Sunbelt, many thought we were crazy, but we knew these were great buildings and we saw tremendous opportunity in these markets,\u201d he said. \u201cToday these buildings enjoy a 90 percent occupancy rate, 65 percent of which are public\/high credit tenants. Unlike many gateway markets, because there is relatively little new construction in these markets, we believe there is still significant value to be captured as rents continue to increase in these markets.\u201d<\/p>\n

With this transaction, Mumtalakat will be joining existing Regent investors including affiliates of BlackRock, CAM Capital, and other well-known endowments and pension funds.<\/p>\n

\u201cWe are delighted to have found an investor that shares our entrepreneurial spirit and appreciates our unique commercial real estate portfolio in markets that provide our investors with a very attractive risk\/reward profile,\u201d Fleiss said. \u201cMumtalakat\u2019s investment will not alter our business plans for the assets, or our reputation as a responsive and thoughtful landlord. They have not just purchased an interest in the assets, but also partnered with us as a vote of confidence in the way we do business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment arm of the Kingdom of Bahrain has acquired an interest in a U.S. office portfolio managed by Regent Properties of Los Angeles.<\/p>\n","protected":false},"author":451,"featured_media":1004144597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21808,21783,23891,21742,21747,1601],"tags":[],"class_list":["post-1004144590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-featured","category-investment","category-national","category-latest","category-office","category-phoenix"],"acf":[],"yoast_head":"\nMumtalakat Partners with Regent on $250M Office Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mumtalakat-partners-with-regent-on-250m-office-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mumtalakat Partners with Regent on $250M Office Portfolio\" \/>\n<meta property=\"og:description\" content=\"The investment arm of the Kingdom of Bahrain has acquired an interest in a U.S. office portfolio managed by Regent Properties of Los Angeles.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mumtalakat-partners-with-regent-on-250m-office-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-05-23T07:41:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T07:20:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/05\/57645y5ht2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"874\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mumtalakat-partners-with-regent-on-250m-office-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mumtalakat-partners-with-regent-on-250m-office-portfolio\/\",\"name\":\"Mumtalakat Partners with Regent on $250M Office Portfolio - 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