From San Antonio Business Journal — Tricia Lynn Silva, July 25, 2008

Brass Real Estate Funds has sold a 24,376-square-foot office and warehouse building at 4202 Dividend to Corpus Christi-based Kennedy Wire Rope & Sling Inc.

The purchase price was not disclosed.

Kennedy Wire, a leading supplier of wire rope, rigging hardware, slings and other oilfield and lifting products, also has plans to occupy the building once the current tenant — Australia-based Leisure Pools — moves into its new headquarters/manufacturing facility in New Braunfels later this year.

Located on the city’s East Side, 4202 Dividend will give Kennedy Wire space to add to its stock of products for its customers throughout Central Texas.

The firm has been active in the San Antonio market since 1998.

Brass Real Estate Funds was founded in 1996 by Rick Rodriguez, who serves as president of the investment and real estate development company.

Each fund for a property purchase or development is set up as a limited partnership, with Rodriguez serving as the general partner for each LP.

The real estate assets in the company’s portfolio are valued at more than $200 million.

The Dividend property was one of three buildings purchased under a Brass Real Estate Fund partnership that also took ownership of The John Smith Medical Building in Northwest San Antonio and The Atrium in North Central San Antonio.

The John Smith property was sold in 2006.

At present, there are no plans to sell the remaining asset, The Atrium.

The Dividend building sale is the latest deal for Rodriguez — the man behind several large-scale investments in San Antonio’s office market.

One of his latest projects is Brass Gateway, a new Class-A office development that is expected to feature more than 500,000 square feet of space.

The project will be spread out over several buildings that will circle a prominent public space featuring waterfalls, eating areas and outdoor conference rooms.

Brass Gateway will be located on 25 acres of land off of Interstate Highway 10 and Heuermann Road on the city’s far Northwest Side.

Rodriguez says the development will serve as the “formal gateway into San Antonio from the West.