GALVESTON – (Realty News Report) – The historic Galvez Hotel, renamed the Grand Galvez, is undergoing a careful restoration that owner and hotelier Mark Wyant expects to be completed in 2022. The Gulf-facing, 220-room landmark, which originally opened in 1911, sits on Seawall Boulevard at 20th Street, directly across from the Gulf of Mexico. Mark … Read more
RNR Real Estate Briefs from Realty News Report – HOUSTON – Electra Capital, a boutique lender focused on flexible, short-term multifamily financing, closed a $5.25 million preferred equity investment in The Aubrey, a 436-unit multifamily community in Houston’s Westchase submarket. The property at 2310 Crescent Park Drive was acquired by TruePoint Capital, based in Katy. … Read more
One Shell Plaza, 910 Louisiana, was the first skyscraper developed by Gerald D. Hines. HOUSTON – Ontellus, the nation’s largest privately held data retrieval and claims intelligence provider, is relocating its national headquarters to 910 Louisiana in downtown Houston. Ontellus, which recorded 20 percent revenue growth over the past year and has significantly expanded its … Read more
SEATTLE – (By Dale King, Realty News Report) — Nearly 56,000 home purchase agreements were canceled in June, representing 14.9 percent of all properties that went under contract just before or during the start of summer. According to a newly released report from Seattle-based brokerage Redfin, this was the largest share of last-minute buyer withdrawals … Read more
Stan Creech HOUSTON – (Realty News Report) – “Buy land, they’re not making any more of it,” humorist Mark Twain famously quipped. Houston real estate icon Stan Creech may not buy land himself, but he has brokered it — roughly $2 billion worth over more than 40 years in the industry. A 1971 graduate of … Read more
Eric Nelson HOUSTON – (By Michelle Leigh Smith for Realty News Report) – April 2019 set a record for April home sales in Houston, with 7,586 single-family houses sold, the Houston Association of Realtors reported. That total represents a 7.8 percent increase compared with April 2018, the association said. “April sales are typically strong in … Read more
SUGAR LAND, Texas – (Realty News Report) Gardner Capital has completed a new mixed-income multifamily community that adds much-needed four-bedroom rental housing to the Alief area of southwest Houston. The $25 million development at 13701 West Bellfort Blvd. was conceived in part as a response to the devastation caused by Hurricane Harvey in 2017. The … Read more
HOUSTON – (Realty News Report) – The 47-story Texas Tower, one of the tallest skyscrapers under construction in the United States, has been topped out. The 1 million-square-foot downtown tower, developed by Hines in partnership with Ivanhoé Cambridge, is scheduled to open in the fourth quarter. Global developer Hines will relocate its corporate headquarters to … Read more
Everly apartments in Houston have been sold. HOUSTON – (Realty News Report) – The Praedium Group, a New York–based national real estate investment firm, has acquired Everly Apartments, a 387-unit complex in west Houston. Located at 2827 Dunvale, the property was built in 2018 by the Walter Embrey organization of San Antonio. It sits just … Read more
Sky Garden: A half-acre rooftop garden adds green space to the new Bank of America Tower in downtown Houston. Photo: Ralph Bivins of Realty News Report HOUSTON – A new 35-story office tower in downtown Houston has achieved LEED Platinum certification, marking it as one of the world’s most sustainable and energy-efficient high-rises. The Bank … Read more