Target 15% Net IRR*
Texas Triangle Class A Office & Mixed-Use Opportunity Fund
FERMA Investments fund, focused on the acquisition and repositioning of Class A office assets across the Texas Triangle. The fund targets 6–12 downtown office properties in Houston, Dallas – Fort Worth, Austin, and San Antonio — executing a proven value-add and mixed-use conversion strategy designed to generate durable cash flow and long-term capital appreciation.
Key Fund Metrics
- Target Raise: $125,000,000
- Target Net IRR: 15%
- Historical IRR: 31%
- Hold Period: 7 Years
- Minimum Investment: $250,000
- Asset Class: Class A Office with Mixed-Use Repositioning
- Geography: Texas Triangle (Houston, Dallas–Fort Worth, Austin, San Antonio)
Backed by a $125 million target capitalization, the strategy leverages deeply discounted entry pricing, stabilized in-place income, and multiple value-creation levers—including lease-up, retail activation, and selective residential conversion.
The same disciplined playbook has delivered a 31% historical IRR across prior Class A office developments and repositionings, with a strong emphasis on downside protection, capital preservation, and institutional execution.
Investment Opportunity
Why This Fund
Why Now
FERMA Investments is capitalizing on one of the most compelling dislocations in U.S. commercial real estate: deeply discounted Class A office pricing in Texas gateway markets, paired with stabilizing fundamentals and sustained population growth. With institutional capital temporarily sidelined, FERMA is acquiring high-quality downtown office assets at a significant discount to replacement cost and executing disciplined value-add and mixed-use repositioning strategies designed to enhance income durability and create multiple exit paths.
Core Thesis Pillars
- Discounted entry basis well below historical terms
- In-place cash flow from stabilized office tenants
- Multiple value-creation levers (lease-up, mixed-use conversion, density optimization)
- Focus on high-growth Texas metros with long-term liquidity
Geographic Focus
Target markets – the Texas Triangle
- Austin
- Houston
- Dallas – Fort Worth
- San Antonio
These markets benefit from:
Strong
population
and job growth
Pro-business
regulatory
environment
Corporate relocations
and sustained tenant
demand
Long-term infrastructure
and urban redevelopment investment
Asset class & buy box
Target Assets
- Class A office buildings only
- 600,000-1M square feet
- $3M – $80M acquisition range
- Downtown, high-walkability locations, and/or central business districts (CBD)
- Existing occupancy providing immediate cash flow
Strategic Focus
- Value-add office repositioning
- Selective office-to-residential and retail conversions
- Minimal heavy CapEx; phased and repeatable execution
- Preservation of core Class A office tenancy
Investment strategy
FERMA’s Mixed-Use Repositioning Model
The fund executes a disciplined, repeatable strategy. This approach mitigates single-use risk while preserving downside protection.
01
Acquire discounted Class A office assets with in-place income
02
Maintain office cash flow while selectively introducing:
- Ground-floor retail (restaurants, fitness, services)
- High-end residential or penthouse units where feasible
03
04
Optimize capital structure and pursue refinance
Roadmap & execution plan
Capital Raise & Acquisitions (Months 1–6)
- Raise $125M from qualified investors
- Build pipeline of 20–30 assets
- Submit 6–9 LOIs
- Acquire 2–3 initial buildings
Phase 2
Conversion & Stabilization (Months 7–18)
- Activate retail and amenity spaces
- Develop limited luxury residential units
- Maintain office occupancy during conversion
Phase 3
Optimization (Months 19–30+)
- Stabilize portfolio assets
- Target 40–60% NOI growth
- Continue optimization
- Optional refinance returning 50–70% of investor capital
Proven Execution
Track record & Historic performance
- Over $80M+ in closed commercial real estate transactions
- 31% average historical IRR across prior Class A office deals
- Successful repositioning of 200,000+ SF of Class A office assets
- International and U.S. experience across stabilized and value-add strategies
Representative Case Study
Torre Futura (Honduras): Stabilized Class A office tower with institutional-grade construction, long-term tenancy, and durable cash flow
Target acquisitions
(Full deal-level detail available in the investor deck and data room.)
Stabilized Class A
Stabilized Class A office tower with institutional-grade construction, long-term tenancy, and durable cash flow
Historic Class A
Historic Class A office assets with lease-up upside
Downtown buildings
Downtown buildings with office-to-residential conversion potential
Core-plus suburban Class A
Core-plus suburban Class A assets with strong WALT
Tax benefits for investors
Potential tax advantages may include:
- Accelerated depreciation
- Cost segregation opportunities
- Passive loss offset potential (subject to investor profile)
- Long-term capital gains treatment upon exit
Tax outcomes vary by investor. Consultation with a tax advisor is recommended.
Risk management & downside protection
FERMA emphasizes capital preservation through:
In-place cash flow from existing tenants
Conservative
underwriting
Diversified income streams (office, retail, residential)
Phased capital
deployment
Focus on high-liquidity downtown markets
Next Step
01
Review the full investor presentation
02
Schedule a one-on-one call with the FERMA team
03
Receive PPM, subscription documents, and data room access
Legal & disclosures
- For accredited investors only
- Past performance is not indicative of future results
- Projections are forward-looking and not guaranteed
- This website does not constitute an offer to sell or solicitation