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Realty News Report’s Legends of Real Estate Awards: Houstonian of the Year

THE LEGENDS OF REAL ESTATE AWARDS 2016 – Ralph Bivins, editor of Realty News Report, has selected the most significant people, projects, deals and ideas of the Houston real estate market for 2016. These aren’t necessarily the largest or the first. But the deals point to future trends, potential gold mines, noble visions and notable accomplishments. LEGEND: HOUSTONIAN OF THE ... Read More »

Houston Apartment Association’s State of the Industry: Worst is Over, But Recovery Won’t Be Instant

HOUSTON – Houston’s multifamily industry will have a lackluster 2017 with upscale Class A properties as the weakest sector. That’s the word from the Houston Apartment Association’s State of the Industry breakfast last week. The worst multifamily problem spots are Class A properties in Montrose, Downtown, the Galleria area and the Medical Center area, says Bruce McClenny of Apartment Data ... Read More »

Dallas Firm Buys Houston Multifamily Project

HOUSTON – Dallas-based Westmount Realty Capital has acquired the 257-unit London Park apartments, a Class B garden-style project on Bammel North Houston Road in North Houston. The community, which was purchased from an affiliate of Fairfield Residential Company of San Diego, was built in 1982. Renamed Westmount at London Park, it is 95 percent occupied, says Michael Anderson, senior director ... Read More »

Realty News Report Named Media Partner for Texas Healthcare Real Estate Summit Feb. 24 in Houston

HOUSTON – Registration has opened for Texas Healthcare Real Estate Summit. The conference will be held Feb. 24 in the Texas Medical Center.  The Summit will focus on the convergence of real estate and healthcare and topics related to the design and construction of medical buildings and related financial, technology and legal issues. Click Here for information and registration.  Comment ... Read More »

Atlanta Developer Starting Seven-Story Condo Near Houston’s Memorial Park

HOUSTON – Stolz Partners of Atlanta will break ground shortly on The Sophie at Bayou Bend, a seven-story, 42-unit condominium project on Memorial Drive near Memorial Park in Houston. Designed by Mirador Group and marketed by Sudhoff Cos., the Sophie project has reached 50 percent pre-sold with an average price of $1.8 million. IBC Bank is providing construction financing. “The ... Read More »

Martin Fein to Develop 300 Units Near Lake Houston

HOUSTON – Martin Fein Interests of Houston has acquired 18 acres near West Lake Houston Parkway in northeast Houston for a multifamily development. Fein, a veteran in the multifamily industry, will develop a 300-unit garden-style apartment community on the site, which is across the street from The Groves, a new 1,000-acre master planned community by Crescent Communities of Charlotte, N.C. ... Read More »

Lionstone Value Add Fund Completes $450 Million Raise

HOUSTON – Houston-based private equity investment firm Lionstone Investments has closed the Lionstone U.S. Value-Add Four fund after raising $450 million. Lionstone’s value-add program was launched in 2005. Since then, the firm has invested in and advised on over $4 billion of value-add properties on behalf of university endowments, foundations, family offices, and large public and corporate pension plans. The ... Read More »

Winning Streak Continues: Houston Home Sales Up in January

HOUSTON – Following up on the strongest year ever for home sales in Houston, the winning streak continues in the new year with single-family sales rising in January 2017. The Houston Association of Realtors reported 4,080 single-family homes were sold in January, up 1.7 percent from the 4,011 sold in January of 2016. Last month was the second-best January in ... Read More »

Hillwood Buys Transwestern Business Center

HOUSTON – An affiliate of the Hillwood organization, the Dallas-based firm controlled by Ross Perot Jr., has acquired the Mason Creek Business Center, an industrial development in the Energy Corridor area of west Houston. The 339,000-SF Class A development is located at the northeast corner of Interstate 10 and Mason Road, a mile east of the Grand Parkway. The seller, ... Read More »

Famed Texas Chef Tim Love to Open The Woodshed at Houston’s Levy Park Redevelopment

HOUSTON – Texas-based chef and restaurateur Tim Love, host of CNBC’s Restaurant Startup show, will open The Woodshed restaurant in the new Levy Park in the Inner Loop of Houston, near Kirby Drive and Richmond Avenue. An expert in “urban western cuisine,” Chef Love is best known for his flagship Lonesome Dove Western Bistro in the historic stockyards district in ... Read More »

Neighbors Health Leases New HQ in Westchase

HOUSTON – Houston-based Neighbors Health, LLC has relocated its corporate headquarters, leasing 98,000 SF in Richmond Park Westchase, 10800 Richmond Ave. The five-story office building is operated by Zenith Real Estate Group. The headquarters of Neighbors, which operates Neighbors Emergency Centers, had been located in the Pearland Town Center. The health firm has subleased the Pearland space, says Colliers International’s ... Read More »

H-E-B’s First Two-Story Grocery in Houston Area Starts in Bellaire

BELLAIRE, Texas – (By Michelle Leigh Smith) – H-E-B plans to close their Bellaire store on March 13 and demolish it to make way for the San Antonio-based grocer’s first two-story food emporium in the Houston area. Using the two-story format could allow H-E-B to penetrate Houston’s upscale urban submarkets where development sites are scarce and land is expensive. “Construction ... Read More »

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