Leggett Ventures, a Houston-based private equity firm investing in real estate and energy, has formed a new commercial real estate investment firm, NewFound Partners, in conjunction with CEO John Leggett and form senior vice president with Newquest Properties, Brad Elmore.
The new real estate investment firm will concentrate on the development and investment of traditional commercial real estate classes, power, and renewable assets. NewFound Partners invests in ground-up development opportunities and income-producing properties within high-growth markets. The firm’s portfolio consists of office, hospitality, industrial, retail, multifamily, and mixed-use properties.
“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.”
“We’ll consider any property type if we see an opportunity to transition it to a higher and better use,”said Brad Elmore, co-founder and managing principal of NewFound Partners. “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.”