Saturday , 30 May 2020
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Tilman Fertitta Borrows $250M at 12 Percent; After Laying Off 45,000, Tilman has Cash Burn-Rate of $2 Million a Day

HOUSTON – (Realty News Report) – Houston restaurant and casino magnate Tilman Fertitta has borrowed $250 million at a whopping 12 percent interest rate while his business struggles with the coronavirus shutdown. Fertitta has a cash burn-rate of $2 million a day and he said he needed  liquidity for the long haul, in case the coronavirus impact continues well into ... Read More »

Lee & Associates Reports Deal in LaPorte

HOUSTON  –  (Realty News Report) – Ivest LP has acquired a 100,000-SF industrial property at 8201 and 8211 La Porte Freeway, near Broadway Street. The seller, Duma Land, LLC was represented by Lee & Associates – Houston’s Trey Erwin, SIOR, Justin Tunnell, Senior Director, and Justin Cole, Associate, represented the seller. Ivest,LP, was represented by Jim Autenreith of Moody Rambin. The ... Read More »

Houston Coronavirus Business Group Seeks Resumption of Business Activity by May 1

HOUSTON – (Realty News Report) – Houston real estate executive Jon Silberman has launched the Houston Coronavirus Business Group to advocate a re-opening of business activity. The group is petitioning Texas governmental leaders to allow business to resume – with certain restrictions and precautions – on May 1. The current stay-home order expires April 30 and Silberman said he has ... Read More »

Seller Withdrawal: Home Owners Pull Houses Off the Market as Covid-19 Expands

HOUSTON – (Realty News Report) – A significant number of home owners took their homes off the market in March as the coronavirus threat mounted in the latter part of the month. The Houston Association of Realtors reported 1,496 listings were withdrawn from the Multiple Listing Service last month, part of a national trend reflective of the nation’s retreat from ... Read More »

Foreclosure Forecast: How Texas Will Fare When Forbearance Is Gone?

HOUSTON – (By Dale King, Realty News Report) – The COVID-19 virus pandemic has already inflicted isolation, business closings, travel restrictions, dine-out prohibitions, a general malaise and lots of fear upon Texans in a very short period of time. And while they endure at home seclusion and all its ramifications, the idea of possibly losing their abode must certainly have ... Read More »

Embrey Partners Receives Financing to Build 338 Units Next to Historic Borden Creamery

SAN ANTONIO – (Realty News Report) – Embrey Partners, a multifamily developer based in San Antonio, announced that is has closed on financing to construct 338 apartment units adjacent to a redevelopment of the historic Borden Creamery property in San Antonio. Wells Fargo is financing the Embrey project which will be near US Highway 281 adjacent to the Pearl district. ... Read More »

Southwest Airlines Flew 56 Flights with No Passengers (Zero) on Monday March 30, says Report

DALLAS – (Realty News Report) – Southwest Airlines operated 56 flights with no passengers on board on  a rough day in the airline business, which  has been devastated by the COVID-19 outbreak, according to the Dallas Business Journal. The 56 empty flights occurred on Monday March 30, according to an article by Evan Hoopfer of the Dallas Business Journal. A ... Read More »

The Nation’s Multifamily Marketplace — RNR News Briefs

Dakota Enterprises recently broke ground for its newest development, Fishel’s Landing, in the Garden Oaks/Oak Forest area near North Shepherd Drive and Janisch Road in Houston. The four-story, 240-unit project was designed by Mucasey & Associates Architects. …………………………………………. Electra Capital, an alternative lender specializing in flexible, short-term multifamily financing solutions, has closed on a preferred equity investment in Stonebridge at City Park Apartments, ... Read More »

Lincoln Property Co. Reports Leasing Activity at 801 Travis Tower

HOUSTON – (Realty News Report) – Lincoln Property Company announced five leases at 801 Travis Street, a downtown office tower at the corner of Travis and Rusk. 801 Travis is a 21-story, 222,192 square-foot office building located in the center of downtown adjacent to the METRO light rail line. The building is next to the JW Marriott hotel, which is a ... Read More »

Mohr Capital Announces Retail Development in The Woodlands

THE WOODLANDS – (Realty News Report) – Mohr Capital, a Dallas-based real estate investment firm, has acquired the 7 Leguas Mexican restaurant property in The Woodlands for a redevelopment project The redevelopment plan includes razing the 7 Leguas Restaurant building of FM 1488 and developing a freestanding structure consisting of a Chipotle Mexican Grill restaurant and a Regions Bank branch office. ... Read More »

Westchase Office Tower Refinanced as COVID-19 Hangs Over Houston Market

HOUSTON – (Realty News Report) – Two CityWest Place, a 20-story Class AA office property in Westchase has been refinanced. The 443,549-SF building located on the west side of Beltway 8 is owned by Parkway Property Investments. JLL worked on behalf of the Parkway to secure the five-year, floating-rate loan. Regions Bank led the loan and syndicated half with Citizens ... Read More »

Strategic Realty Holdings Acquires Multifamily on Strategic Site South of Medical Center

HOUSTON – (Realty News Report) – An affiliate of Strategic Realty Holdings has acquired the 240-unit Stonebridge at City Park near Highway 288 on the southside of Houston. Strategic Realty Holdings, based in Calabasas, Calif. is led by Edward Lorin a value-add multifamily specialist with a track-record that includes 75 apartment complexes with 15,000 units. The Stonebridge, 11800 City Park ... Read More »

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