Real Estate Veterans Form Houston-Based CRE Investment Firm
Leggett Ventures CEO John Leggett and former Newquest Properties SVP Brad Elmore have launched the full-service company NewFound Partners.
HOUSTON, TX – Leggett Ventures CEO John Leggett and former SVP of Newquest Properties Brad Elmore have launched a new commercial real estate investment firm, NewFound Partners.
Headquartered in Houston, TX, NFP develops and invests in various commercial real estate sectors, as well as power and renewable assets, nationally. The venture invests in ground-up development opportunities and income-producing properties across high-growth markets.
The firm’s portfolio currently comprises office, hospitality, industrial, retail, multifamily and mixed-use assets, as well as solar and battery powered storage developments.
“We’ll consider any property type if we see an opportunity to transition it to a higher and better use,” states Elmore, NFP co-founder and managing principal. “Some of our current projects include converting an in-fill warehouse into a paid parking lot, developing two rice farms to 475 megawatts of solar power, and turning a bowling alley into an office building.”
As its latest project, NFP is currently repurposing a property into a 28,000-square-foot office for its headquarters. Located at 1106 Witte in Houston’s Spring Branch district, the office is scheduled to open in Q4 2022. Half of the building will be available for lease.
“A surface-parked office in the Memorial area is pretty unique, and it will be fun to turn a cinder block box into a post-modern statement piece,” says Elmore. “It’s a little too early to share details, but it’s guaranteed to be a cool and unique office space.”
Longtime business partners, Leggett and Elmore have worked together on a variety of real estate investment projects in the past.
“Leggett Ventures has been an active player in real estate and energy investment over the last decade, and the formation of NFP allows us to expand our footprint in commercial real estate assets,” says Leggett, NewFound Partners co-founder.
NFP’s principals hold a combined 50 years of industry experience, which is leveraged to execute data-driven strategies across investments.