Author: Sarah

Midway and Arc Capital Partners Acquire Sabine Street Lofts

Posted on by Sarah

A joint venture between Midway, the privately owned, fully integrated real estate investment, development and management firm, and Arc Capital Partners, the real estate owner and investment manager known for mixed-use urban infill investments with strong and beneficial impacts on communities, has acquired Sabine Street Lofts, a 198-unit, Class-A, loft-style apartment community located near Downtown Houston on Buffalo Bayou. Tom Fish and Jonathan Paine with Walker Dunlop represented the joint venture in financing the transaction.

Located at 150 Sabine Street, Sabine Street Lofts benefits from its accessibility and direct access to the revitalized Buffalo Bayou Park and is immediately west of Downtown Houston. Completed in 2001, the institutional-quality asset features large one- and two-bedroom floorplans with an average size of 1,017 square feet, approximately 100 square feet larger than the average apartment in Central Houston. Unit amenities include granite countertops in kitchen and baths, 10-foot ceiling heights with exposed ducts, in-unit washers and dryers, stained concrete and wood flooring and private balconies or patios. Community amenities include gated entrances with immediate access to the Buffalo Bayou trail, a fitness center, two resort-inspired swimming pools, outdoor fireplaces, expansive sundecks and pet-friendly amenities. Plans are underway to renovate the property, investing capital specifically into the common areas and project amenities that all residents can enjoy.

Additionally, many of the units will be converted into workforce housing as part of Midway’s MPact program, a new initiative within Midway’s property operations division. Aligning with the firm’s values to be purposeful and community-driven, MPact seeks to support those who are making a difference in our communities. Designed for professionals earning around 80% of the area median income, MPact will provide quality housing to those who have dedicated their careers to serving others.

Additional Midway properties that offer MPact units include Braeburn Village, Villa Del Prado and The Laura, which will debut in 2023 as part of Midway’s future East River mixed-use development.

OwnProp Continues Expansion – Enters Houston Market

Posted on by Sarah

The Web3 Technology company fractionalizes investment in 22-story Class A property

AUSTIN, Texas, Nov. 10, 2022 /PRNewswire/ — Peter Rex, founder and Executive Chairman of Rex, announced that OwnProp, a Rex company, is continuing its recent geographic growth by expanding its offering to Houston, Texas. This news comes on the heels of OwnProp’s recent expansion into Atlanta. OwnProp is a tech platform democratizing access to high return and cash flowing commercial real estate deals by fractionalizing assets using blockchain technology.

The Rex Company expands to Houston.

“With OwnProp’s technology, we’ll continue to make real estate investments just like this, more accessible,” said Rex.

“OwnProp has successfully closed offerings for hotels, multifamily apartment complexes, commercial office spaces, and now will be offering a 22-story Class A property located in the prestigious Uptown district of Houston,” said Peter Rex. “With OwnProp’s technology, we will continue to make real estate investments just like this, more accessible,” said Rex. Click to read more at www.finance.yahoo.com.

SHM Architects Signs 12,000 SF at the Meadows Building

Posted on by Sarah

Transwestern Real Estate Services (TRS) announces SHM Architects, PLLC, a Dallas-based design firm, has signed a new, long-term 12,218-square-foot lease in the historic Meadows Building at Energy Square, a 170,000-square-foot office building located at 5646 Milton St. The firm moves to the top floor of the building, relocating from the Knox District. Transwestern’s Michael Griffin and Ethan Minter represented the tenant in lease negotiations.

SHM Architects, PLLC is a boutique design studio founded in 2005 in Dallas by David Stocker, Mark Hoesterey and Enrique Montenegro. In 2019, SHM launched its first satellite studio in Crested Butte, Colorado, reflecting a sustained commitment to servicing clients across the Mountain West region.

With more than 1.1 million rentable square feet spread out over five buildings, including the Meadows Building, Energy Square recently underwent a renovation that includes a state-of-the-art 10,000-square-foot fitness center, conference center, tenant lounges, revamped delis, campus park and outdoor deck. Completed in 1955, the Meadows Building was the first suburban office tower in Dallas and originally served as the headquarters for the General American Oil Company.

Jeff Eckert, Blake Shipley, Haley Hullett and Ayanna Jarvis with JLL represented the landlord, GlenStar and USAA Real Estate.

According to Transwestern research, pervasive flight to quality continues driving asking rent growth higher in quality Class A properties. Last quarter, full-service rents reached $43.92 per square foot, up 7.6% from last year.

Dangerous Curves Ahead: An Update on the Energy Sector

Posted on by Sarah

Sector Speaker: Detlef Hallerman-Director of the Reliant Energy Trade Center at Texas A & M University

Takeaway: As we transition from a fossil fuel-based economy to a ‘green’ economy, there will be many bumps in the road, and hard lessons to be learned. The transition involves moving from a free market energy world to an energy world created by government direction and consumer sentiment…and, the underlying truth of global warming. We are venturing into unknown territory.

Bullets:

• The ‘green movement’ is creating friction in crude oil exploration and refining markets
• One camp says ‘let the free market handle the transition’ and another camp says ‘it is too urgent to rely on markets and we must guide the process through government initiatives’
• In the meantime, coal is still the dominant fuel worldwide, and new coal burning plants are still being built in some countries
• The ‘green goal’ is to achieve an 80% energy change in a few short decades; the change is indeed underway, but it will be incremental and not brisk
• We are very slowly reducing reliance on the ‘Big 3’: coal, natural gas, & crude oil
• It takes only one year in the Permian Basin of Texas to bring a well to production status; offshore and internationally it takes much longer, hence sudden shortages in crude oil cannot be instantly be caught up
• There are a lot of government programs to accelerate battery and electricity storage development, and the solar energy to feed them, but progress is slow; solar energy cannot be created at night and wind energy cannot be created when the wind does not blow. During the Texas energy crisis during the big freeze, frozen infrastructure and no wind combined to reduce electricity generation right when we needed it the most

Click to read more at www.rednews.com.

Mohr Capital Sells Alamo Quarry Medical Building to Big Sky Medical

Posted on by Sarah

Mohr Capital, a Dallas-based privately held real estate investment firm, sold the Alamo Quarry Center medical office building at 250 E. Basse Road in San Antonio to Dallas-based Big Sky Medical, in a transaction brokered by Cushman & Wakefield. The two-story 38,370 square foot building is fully leased.

The sale was part of a temporary shift in strategy to move capital into other development projects. Mohr Capital remains committed to its medical portfolio and will continue to pursue future opportunities in the asset class.

Robert Fiederlein Rejoins North Houston District Executive Staff Shifts

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HOUSTON, TX (November 2022) – Please join the North Houston District in welcoming Robert Fiederlein as our Vice President of Planning and Infrastructure and congratulating longtime District leader Bart Baker in his transition to Chief Operating Officer.

RE-WELCOME ROBERT FIEDERLEIN

Robert Fiederlein is well-known and well-respected in the Houston development industry, and the North Houston District is proud to announce that he came on board as our Vice President of Planning and Infrastructure, effective August of 2022.

Robert has more than 20 years of experience in project management, public finance, and economic development. He has a keen business sense and deep knowledge of what it takes to implement successful projects. He looks at plans from every angle – environmental, financial, legal, contract and administrative. He has a heart for equitable housing and is a huge Houston sports fan, avid Texas history buff, kayaker, and half-marathon man!

In addition to finalizing ongoing District initiatives, Robert will focus on implementing recommendations from the 2020 Livable Centers Study and 2021 Public Art & Placemaking Report, as well as liaison on the METRO Boost Network, which will provide customer enhancements to high-frequency bus routes and improve multimodal transportation to and from North Houston District.

Does the name sound familiar? It might- because Robert worked for the District in 2016 and 2017. We’re thrilled to have him back and excited to share a few other staffing updates.

BART BAKER

Bart joined the District in 2003 as Manager of Urban Planning, focusing primarily on inter-governmental coordination in urban design, parks and trails, transportation, and long-range development and redevelopment initiatives. Over the years, he has worked to extend the District’s parks and trails system, expand the Clean and Green initiative, improve mobility, increase flood mitigation and facilitate capital improvement projects. Bart has represented the District on numerous boards and Property Owners’ Associations, including Greens Bayou Corridor Coalition and Alliance of North Houston Chambers of Commerce.

For several years Bart served as the District Executive Vice President and Chief Operating Officer, including responsibilities for planning and infrastructure initiatives. While he excelled at carrying both significant duties, he was asked in May 2022 to focus on the EVP/COO role and lead the District’s financial and support services. He is responsible for strategic financial planning, manages the financial side of District projects, and oversees all day-to-day financial and administrative matters for the District.

ASDRUBAL “DRU” GUTIERREZ

Dru was promoted to Field Services Director in early 2022. His role recently expanded to include management of the District Parks and Recreation activities at North Houston Skatepark, Dylan Park, and the Rockstar Energy Bike Park. Congratulations on the expansion, Dru!

MORE ABOUT ROBERT F. FIEDERLEIN

Robert Fiederlein has a Bachelor of Science in Engineering from UT Austin and a Master of Public Health in Environmental Health from the UT Health Science Center in Houston. Robert’s vast experience includes serving on the Board of Directors for Avenue CDC, one of Houston’s largest 501©3 nonprofits dedicated to building affordable homes, and then joining the staff as Senior Director of Real Estate. He also worked in the City of Houston’s Finance and Administration Department, where he worked on TIRZ management and economic development. He has held leadership roles at three Houston-area management districts, including Memorial City District, East End District, North Houston District.

“There’s a common thread woven through all my various positions,” he explained. “Projects. I have been working on projects my whole professional life. One type of project has led to another type, and I gravitated toward the financial and legal aspects of getting projects accomplished.”

Immediately before rejoining North Houston District, Fiederlein served as Chief Financial Officer for Urban Partnerships Community Development Corp and spearheaded the completion of the East End Maker Hub, a $37 million, 300,000-square-foot maker space that opened in early 2021. The Maker Hub is expected to create more than 400 new jobs for local manufacturers, artisans, makers, and innovators. The project ensures equitable access to affordable workspace for production-based businesses.

PREVIOUSLY AT NORTH HOUSTON DISTRICT

In 2016 and 2017, Robert served as the District’s Vice President of Strategic Planning. It was an economic development focus, working to bring new projects to the District. During that time, Robert executed an incentive for Amazon, which resulted in construction of an 855,000-square-foot Amazon Fulfillment Center at Pinto Business Park, and focused on the five commercial buildings that now make up CityNorth.

WHAT’S NEXT

Robert is focused on furthering many of the projects started by Bart Baker, such as the Gateway Improvement Project, which is adding branded monument signs and landscaping at the major entrances along primary District thoroughfares.

“We will continue advocating for projects that benefit people who live and work in the District,” he said. “We will concentrate on developing new public-private partnerships and implement projects from the Livable Centers Study.

Robert said the Livable Centers Study provides a planning roadmap and strong vision for next five, 10 and 15 years.

“The District has some capacity to implement projects,” he said,” but the long-term changes we want to see require partnerships. We’re going to spend a lot of time improving existing partnerships and developing new ones. There are opportunities to build relationships with businesses coming to the area.”

As the needs of our community ebb and flow, the North Houston District will stay committed to our mission of attracting the best in commercial and residential life to our appealing, safe, accessible, and green activity center.

Robert will help further our mission of keeping the area appealing, safe, accessible, and green so that investors want to invest here, businesses want to locate here, employees want to work here, and people want to live here.

About the North Houston District

Created in 1991 by the Texas Legislature, the North Houston District is a business improvement district that leverages public and private partnerships to provide enhanced services in transportation mobility, public safety, beautification and recreational development, marketing and strategic planning and development. Minutes from Bush IAH, the District’s 12-square-mile service area has 20 million square feet of office, retail and industrial properties. The District area includes more than 3,800 businesses, 68,000 employees and 118,500 residents. For more information, visit www.northhouston.org.