NewFound Partners, a commercial real estate investment firm, has debuted. The co-founders are John Leggett, CEO of Leggett Ventures and Brad Elmore, former senior vice president at Newquest Properties.
HOUSTON, March 23, 2022 /PRNewswire/ — Longtime Houston friends and business partners, John Leggett, CEO of Leggett Ventures, and Brad Elmore, former Senior Vice President at Newquest Properties, announced today the formation of the new commercial real estate investment firm, NewFound Partners (NFP). The new venture, headquartered in Houston, develops and invests in traditional commercial real estate classes, as well as power and renewable assets across the country.
“After six years of working together on a variety of real estate investment projects, we’re excited to make it official with the formation of NewFound Partners,” said John Leggett, CEO of Leggett Ventures and Co-founder of NewFound Partners. “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.”
NewFound Partners actively invests in ground-up development opportunities and income-producing properties in high-growth markets. NFP’s portfolio currently spans office, hospitality, industrial, retail, multifamily, and mixed-use properties, along with solar and battery power storage developments. NFP’s principals have a combined 50 years of experience they leverage to create and execute data-driven strategies across their investments.
“We’ll consider any property type if we see an opportunity to transition it to a higher and better use. 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.,” said Brad Elmore, Co-founder and Managing Principal of NewFound Partners.
NewFound Partners’ latest commercial project, 1106 Witte in the Spring Branch District, is being repurposed into a 28,000 square foot office and will be the company’s headquarters. The building is scheduled to open in the fourth quarter of this year, with approximately half of the building already pre-leased and the remaining half available for lease to third parties.
“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. It’s a little too early to share details, but it’s guaranteed to be a cool and unique office space,” added Brad.
About NewFound Partners:
A Houston-based commercial real estate firm specializing in the investment and development of opportunistic real estate projects across the US. Co-founded by Brad Elmore and John Leggett, NewFound Partners portfolio spans office, hospitality, industrial, retail, multifamily, and mixed-use properties, along with solar and battery power storage developments.
About Leggett Ventures:
A Houston-based Private Equity firm specializing in Real Estate and Energy investments. Over the last decade, Leggett Ventures has sourced and managed a multitude of investment opportunities in the Real Estate and Energy sectors including portfolio companies: On Point Custom Homes, Frontier Title, Cannon Field and newly formed NewFound Partners. With a focus on hands-on management, the Leggett Ventures team has more than $100 million in assets under management.