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Simpkins Group Sells Central Texas Holdings

AUSTIN – (Realty News Report) – Simpkins Group, a Houston-based real estate firm led by Douglas Simpkins, has sold two of its healthcare properties in Central Texas. JLL handled the sale of two recently completed healthcare facilities totaling 35,000 SF in Austin and San Antonio. The buyer is an affiliate of Capital Square 1031. The portfolio comprises two post-acute neuro-rehabilitation facilities operated ... Read More »

Midway Renames High-End Hotel, Brings in New Manager

HOUSTON – (Realty News Report) – The 266-room Hotel Sorella has been renamed The Moran CityCentre, according to hotel owner Midway Cos., the developer of the CityCentre mixed-use development in West Houston. The 10-year-old hotel, which has been ranked by Conde Nast as one of the city’s top 10 hotels, will be given a redo. HEI Hotels & Resort, a ... Read More »

Hotel-Like, Short-Term Rentals Infiltrating Multifamily Communities

AUSTIN – (Realty News Report) -Short-Term Rentals (think Airbnb or WhyHotel) are a hot topic in the multifamily industry. The mechanics of incorporating the STR (short-term rental) niche into an apartment complex is complicated. But it certainly makes sense when a new urban apartment project is in its initial lease-up mode. “There’s certainly a feeling of things warming up”, says ... Read More »

2019: The Best Year Ever For Houston Realtors

HOUSTON – (Realty News Report) – Houston’s hot housing market continued its fiery pace in November as he city’s housing surged toward a record year. November’s 6,395 single-family home sales, were up 3.6 percent from last November, the Houston Association of Realtors reported. It was the strongest November ever for home sales in Houston. With mortgage rates low and Houston ... Read More »

The Nation’s Biggest Rail- and Barge-Served Industrial Park Just Got Bigger, Reports Avera

BAYTOWN, Texas – (Realty News Report) – Avera is proceeding with construction of Cedar Port Logistics, a 644,000-SF industrial project in Cedar Port Industrial Park which is the largest master-planned rail and barge-served industrial park in the United States. Avera is tilting up concrete wall panels at the building, which is situated on 40.8 acres within the 15,000-acre Cedar Port ... Read More »

Law Firm Leases Space in Downtown Houston

HOUSTON – (Realty News Report)— The Martin, Disiere, Jefferson & Wisdom law firm has expanded and renewed its lease in downtown Houston’s historic Esperson Building. The law firm will occupy 42,000 SF, according to the Newmark Knight Frank real estate company. The tenant, which previously occupied 39,000 square feet sparsely spread between floors 17-20, reorganized its footprint from a four-floor ... Read More »

Nashville Invades Austin: Grand Ole Opry Owner Buying Austin City Limits Site for $275 Million – The Biggest Real Estate Deal in Country Music History?

AUSTIN – (Realty News Report) – Nashville-based Ryman Hospitality Properties, owner of the Grand Ole Opry and the historic Ryman Auditorium country music hall, is acquiring a mixed-used development in downtown Austin that includes the Austin City Limits theater. The $275 million deal gives Ryman – a unique brand that controls the crossroads of country music and real estate – ... Read More »

Hunt Family Sells 3,400 Acres for Master Planned Community

McALLEN, Texas – (Realty News Report) – Laredo-based Killam Development has acquired 3,400 acres in South Texas, near the Mexico border, for a master planned community. The seller Hunt Valley Development, controlled by the family of Ray L. Hunt, the son of the late H.L. Hunt, founder of Hunt Oil. NAI Partners’ Carlos Marquez and Brett Lum represented the seller, ... Read More »

GHP Forecast: Fewer New Jobs will be Created in Houston in 2020

HOUSTON – (By Michelle Leigh Smith for Realty News Report) – Houston’s economy will churn slightly slower in 2020, according to the annual forecast by Patrick Jankowski, economist for the Greater Houston Partnership. Houston will add 42,300 new jobs in 2020, down from the 64,400 jobs anticipated in 2019. A downturn in the energy industry will soften the regional economy ... Read More »

Home Sales Up 50 Percent at LGI Homes

THE WOODLANDS, Texas – (Realty News Report) — LGI Homes Inc., a Texas-based home builder, sold 748 homes in November, up from 500 home closings in November 2018. The closings total represented year-over-year sales growth of 49.6 percent for LGI Homes. Builders around the nation have been gaining momentum as mortgage rates have eased in 2019 and the Federal Reserve ... Read More »

Wood Partners Breaks Ground on Apartments in Spring

SPRING, Texas – (Realty News Report) – Wood Partners, an Atlanta-based multifamily real estate development and acquisition firm, has broken ground on the 300-unit Alta Cathedral Lakes apartments in Spring, north of Houston. The multifamily project will be located at 698 Basilica Bay Drive.  Alta Cathedral Lakes is in Spring’s new master planned community, Cathedral Lakes, which features 150 acres ... Read More »

The Houston 2020 Downtown Awards – Winners Announced for Real Estate and Placemaking

The Houston 2020 Downtown Awards By Ralph Bivins, Author of Houston 2020: America’s Boom Town – an Extreme Close Up Downtown Dealmaker  of  the Year: Skanska Commercial Development. Skanska pulled off two megadeals in downtown Houston. Most impressive was its acquisition of four surface parking lots near Discovery Green park – a total of 3.5 acres for $55 million. High-rise, mixed-use development ... Read More »

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