HOUSTON – (Realty News Report) – Molto Industrial Properties has sold a six-building, 1.5 million-square-foot industrial portfolio spanning Houston and four additional U.S. cities, according to Cushman & Wakefield. A fund managed by a subsidiary of Ares Management Corp. acquired the portfolio from Molto Industrial Properties. Houston assets in the sale include 625 and 645 … Read more
HOUSTON – (Realty News Report) – The Hawthorne, the only high-rise condominium to break ground in Houston this year, marked its start of construction with a ceremonial silver-shovel groundbreaking on Wednesday. Priced from $1.2 million, the 17-story tower will rise in the Tanglewood neighborhood at 5656 San Felipe, near Chimney Rock Road. Pelican Builders, a … Read more
Rob Dietz, Chief Economist, NAHB ORLANDO — Lots, labor and lending will shape the U.S. homebuilding industry this year, with single-family housing starts projected to rise 4.9 percent to about 1.16 million compared with the previous year, according to the National Association of Home Builders (NAHB). NAHB Chief Economist Rob Dietz said mortgage rates are … Read more
RNR Real Estate Briefs from Realty News Report – WILLIS – MRSS Partners Ltd., a partnership between Satya Inc. and Stolz Partners, sold 31.6 acres of undeveloped land near Willis to a Fidelis Realty affiliate, Market at Willis Associates, for future retail development. The parcel is part of Satya’s 500-acre Moran Ranch development located on … Read more
HOUSTON – (By Dale King, Realty News Report) – A team of three professors from two South Florida universities who publish a quarterly housing report have presented a challenge — and a new perspective — for people weighing the decision to buy or rent in their latest study. Which yields better returns: buying a house … Read more
HOUSTON – (By Dale King, Realty News Report) – The nation’s multifamily housing industry entered 2021 in relatively strong condition despite the disruptions of 2020, according to the National Multifamily Housing Council’s newly released 2021 NMHC 50, the industry’s primary ranking of the largest apartment owners, managers, developers, builders and syndicators in the United States. … Read more
Tilman Fertitta HOUSTON — Houston billionaire Tilman Fertitta, known for owning the Landry’s restaurant group and the Golden Nugget hotel and casino brand, has agreed to purchase the NBA’s Houston Rockets for $2.2 billion, according to the Houston Chronicle. Rockets owner Leslie Alexander had announced several months earlier that he intended to sell the team. … Read more
AUSTIN – (Realty News Report) — Rastegar Industrial is developing a 530,000-square-foot industrial project near the new Tesla Gigafactory in east Austin. The facility is scheduled for completion in the third quarter of 2022. Newmark has been retained to handle leasing for Rastegar Industrial. Tesla is investing more than $1.1 billion in its Austin factory, … Read more
Jane Page, CEO of Lionstone Investments HOUSTON — Columbia Threadneedle Investments has reached an agreement for Columbia Management Investment Advisers, LLC to acquire Lionstone Partners, Ltd., a Houston-based national real estate investment firm operating as Lionstone Investments. The deal brings Lionstone into the Columbia Threadneedle platform while preserving the firm’s local presence and operational leadership. … Read more
SAN ANTONIO – (Realty News Report) – Store closures have opened up space in San Antonio shopping centers, creating opportunities for retailers seeking locations in 2021. Last year San Antonio lost local stores from Stein Mart, Pier 1 and Sears. “Rent growth has varied across San Antonio submarkets, and with additional space likely coming available … Read more