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New NNN Acquisition

noemail@peii.net — Wed, 21 Jul 2010 18:00:00 GMT

Today Principle Equity closed on a $13 million industrial property occupied by National Oilwell Varco on a NNN basis for 15 years. Located in Oklahoma City near the Will Rogers Airport, the property was constructed in June 2010. This property is the company's second acquisition in Oklahoma City. The company believes that the long-term nature of the oil and gas industry in OKC and the financial strength of NOV will produce safe and reliable investment returns.

Loan Extended on Former DBSI Property

noemail@peii.net — Fri, 17 Jul 2009 18:00:00 GMT

Principle Equity is pleased to report the successful loan modification of a former DBSI property. The loan was due to mature on 6/30/09; however, the asset management team negotiated with the lender (Bank of Oklahoma) for an extension of 3 years, which saved the property from going into foreclosure.

Principle Equity Awarded Asset Management of 5 Properties

noemail@peii.net — Sun, 01 Feb 2009 20:00:00 GMT

Principle Equity won the asset management services of five former DSBI properties on February 1, 2009. DBSI was involved in a Chapter 11 bankruptcy and rejection of all master leased properties within its tenant-in-common program.

Principle Equity Purchases Atrium Towers

noemail@peii.net — Thu, 30 Oct 2008 21:45:00 GMT

Principle Equity is please to announce the acquisition of Atrium Towers at Lake Hefner on October 30, 2008. The property is a multi-tenant, Class B office product totaling 152,861 SqFt located in the Northwest submarket of Oklahoma City.

Principle Equity relocates!

noemail@peii.net — Mon, 11 Aug 2008 22:00:00 GMT

Principle Equity has relocated its office to:

10777 NW Freeway, Suite 850
Houston, TX 77092

All correspondence should be redirected accordingly. The primary office phone number continues to be (281) 847-9955.

Westgate Commons Portfolio Closes

noemail@peii.net — Thu, 10 Jul 2008 20:00:00 GMT

July marks a fantastic month with the closing of Westgate Commons Portfolio located in the Cool Springs submarket of the Nashville MSA. The portfolio includes two separate multi-tenant office buildings with a combined net rentable area of 52,495 square feet. Principle Equity and its investors bought the property with financing by Prudential Insurance Company of America.

Principle Equity Opportunity Fund, LLC Acquires Parker Court

noemail@peii.net — Tue, 15 Apr 2008 22:00:00 GMT

On April 15, 2008, Principle Equity Opportunity Fund, LLC acquired Parker Court, a 89.53% leased, nine-building, business service and distribution (flex) park containing 243,096 square feet. The purchase price of the property was $1,425,000 below the appraised value and presents a great value-add opportunity.

This well built and beautifully landscaped park is situated on approximately 16.5 acres in the northeast suburbs of metropolitan Atlanta, providing local and regional access via the Stone Mountain Highway (US 78) and I-285. US 78 is considered one of the major east-west traffic arteries of metro Atlanta and the immediate area is consider the most predominate business center in South Gwinnett County.

Principle Equity Acquires a $34 Million Office Portfolio in Bedford, Texas

noemail@peii.net — Thu, 28 Sep 2006 22:00:00 GMT

On September 28, 2006, Principle Equity acquired an office portfolio comprising 251,168 square feet near the DFW Airport.

Constructed in 2000 and 2001, 121 Airport Centre I & II are complementary, two story office structures. 2208 Airport Freeway (Phase I) contains 137,078 square feet and 2200 Airport Freeway (Phase II) contains 114,090 square feet. Both buildings feature rectangular, domino shaped floor plates divisible into smaller "pods" that are separated by a central building corridor.

An inviting outdoor courtyard shaded by mature live oak trees sits independently between the two buildings and effectively unites the two structures into one complex. Surface parking serves the entire complex at a generous 6:1,000 rsf ratio. All access points to both buildings are handsomely clad with brick pavers enhancing the projects overall appearance and quality.

One Summit Plaza sold for $13.4 million

noemail@peii.net — Tue, 08 Aug 2006 17:00:00 GMT

By ROBERT EVATT World Staff Writer
8/8/2006

One Summit Plaza, an eight-story Tulsa office building, has been purchased by a Houston real estate investment firm for $13.4 million.

Principal Equity Management bought the building at 5727 S. Lewis Ave. from One Summit Plaza Oklahoma LLC of Newport, Calif.

Brendan Hooie, due diligence officer for Principal Equity Management, said the company was impressed by both the building and the city.

"It was the right property at the right time," he said. "We think Tulsa's rebounding, so we believe in the market."

The purchase is the organization's first in Tulsa, he said. Its portfolio now includes four office buildings and two retail centers across the nation.

Hooie said the building's new anchor tenant was also a factor for the purchase.

"The great thing about this building is that Bank of Oklahoma just signed a 10-year lease," he said. "They'll be a premiere tenant."

BOk plans to open a 3,500 square-foot branch with a drive-through window by early next year, Hooie said.

The company has also rented the top floor for its private financial services, which provides private banking, brokerage and investment management services to high-net-worth individuals. Hooie said BOK's total space in the building will be 19,391 square feet.

Including BOk, One Summit Plaza is 89 percent occupied. Other tenants include World Travel Service and U.S. Rep. John Sullivan, R-Okla.

"It's got a good mix of companies," Hooie said.

The building will now by managed by Principle Equity Management LP.

Mary Martin of CB Richard Ellis/Oklahoma and Daniel N. Vittone of Voit Commercial Brokerage of Irvine, Calif., co-brokered the sale.

Former Service Merchandise HQ Sold Again

noemail@peii.net — Fri, 09 Jun 2006 17:15:00 GMT

The former headquarters building for Service Merchandise has changed hands twice in recent weeks. The Cool Springs Commons building, located at 7100 Commerce Way in Brentwood, was sold by Kirkland Properties LLC in April for $40.3 million to Principle Equity Management, a privately owned real estate investment company based in Houston. This month, the building was sold again as PEM completed a tenant-in-common, or TIC, transaction in which it was transferred to 35 investors. The new sale price was $46.4 million. In a TIC sale, investors with limited funds can buy shares in a single large property, rather than buying a less-expensive property outright. The mechanism is useful in transactions known as 1031 exchanges, in which investors sell a property and can defer capital gains taxes by purchasing a replacement property - such as shares in the Cool Springs building. Principle Equity, the Houston company, specializes in sponsoring such transactions, by identifying suitable...

Guiding Principle

noemail@peii.net — Fri, 09 Sep 2005 17:00:00 GMT

By the time Randy and Michael McQuay finished grade school, their father owned six homes as real estate investments. In junior high, Randy McQuay often talked to school chums about having his own real estate company. The McQuays business destiny was apparently already in their genes. Although their brotherly relationship was sometimes rocky, the McQuays tossed those differences aside and are now partners in a burgeoning commercial real estate venture. While their father dipped his toes into the real estate investment waters, his sons are swimming laps in an Olympic-size pool. The owners of Principle Equity Investments Inc., Kalee Investments and Principle Equity Management -- the newest addition to their mini-empire -- are scrambling to add management staff, jockeying deals around the country and adding desks to every nook and cranny in their corner of a low-rise office tower. Sitting down in the company boardroom on a Friday afternoon after just returning from a trip to Boston to...