WCC raising money to buy Cap City Comedy's home

Oct 7, 2013
Austin Business Journal

Austin-based World Class Capital Group appears to have set its sights on a retail property in North Austin

Documents filed Sept. 30 with the U.S. Securities and Exchange Commission indicate that an entity named WC 8120 Research LP raised $1.6 million from 11 investors, likely to help fund the acquisition. Nate Paul, the CEO of World Class Capital, filed the documents on behalf of WC 8120 Research LP

The 41,255-square-foot property has been anchored for years by Cap City Comedy Club. Michael Powers of Cetera Realty Advisors has the listing for the $4.1 million center

World Class Capital has been acquiring properties aggressively for the past couple of years in Austin and around the country. It owns several properties in Downtown Austin, including high profile parcels ripe for redevelopment. The company is remodeling the former Spaghetti Warehouse on West Fourth Street and recently completed the Rio nightclub on West Sixth Street, which generated a bit of controversy involving mechanic's liens

Earlier this year, World Class Capital purchased a retail center in Denver and several self-storage developments around the country

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