NAI Partners Arranges Three Industrial Deals in Texas

NAI Partners recently arranged one industrial sale and two leases in Texas. The transactions involved properties in Houston and in Austin. For the sale, NAI Partners’ Joel Michael represented the RL3 Properties in their acquisition of 9100 Caniff Street in Houston, a 16,500-square-foot, freestanding industrial building sitting on 2.2 acres. Terms of the deal were not disclosed. NAI Partners’ Chris Caudill & Troy Martin represented Geospace Technologies Corporation—a manufacturer of scientific instrumentation and equipment for the petroleum industry—in their 9,145-square-foot lease at 8701 Cross Park Drive in Austin. Jay Legg with MFB Real Estate represented the Landlord, 5205 Acquisitions, LLC in the transaction. Finally, NAI Partners’ Jon Silberman represented Modern Chemical, LLC in their 18,573-square-foot lease at 1103 East Airtex in Houston. NAI Partners’ Travis Land represented the landlord in the transaction. Airtex Business Park consists of four distribution buildings and was developed by Adkisson Group. There is one building left available in the park for sale or lease located at 1133 East Airtex.

Rastegar Plans Multifamily Development for South Congress Assemblage in Austin

Rastegar Property Company has acquired 5412 South Congress Avenue in Austin. Sitting on nearly one-acre of land, the property is the third and final property in the firm’s South Congress assemblage that includes 5402 South Congress and 106 Red Bird Lane. The three properties cover the two hard corners of Mockingbird Lane and Red Bird Lane with South Congress frontage. Located in a thriving area of South Austin, the company’s redevelopment plans for the trio of properties, encompassing almost three acres of land, will join a mix of high-quality apartment and condo projects in the surrounding area. The planned multifamily development will be transformative to the area, providing an iconic building with a walkable environment, further connecting this area of south congress to the very lively stretch to the north. “After we closed on the first property at 5402 South Congress, we’ve had a vision to assemble this entire site and are truly excited to see it come to fruition,” said Ari Rastegar, founder and CEO of Rastegar Property Company. “As Downtown Austin continues to grow in size and popularity, this assemblage of properties will provide frontage multifamily apartment units in a highly attractive central location, on one of the most famous streets in Austin, ensuring it to be one of the most sought-after areas of the city.” “As we move forward with our planned development for South Congress, we continue to remain committed and focused on enhancing the quality of life in south Austin and providing great housing for our growing population,” said Hunter Floyd, director of design and development for Rastegar. “We understand and realize the importance of quality of living, especially post-COVID. For those reasons, this project will emphasize wellness, including air quality and outdoor amenities as well as provide spaces within units that create office niches for residents working from home.” The apartments will offer a range of amenities that have a specific appeal to wellness during and post-COVID including outdoor access and common areas providing greater air circulation, and more opportunity for social distancing. Additionally, Rastegar is familiar with using new materials including special light fixtures that have ultraviolet light and antimicrobial materials such as copper.

Rastegar Acquires Third South Congress Property

Firm Completes Land Assemblage for Planned Multifamily Complex in Highly Desirable South Austin

AUSTIN, TX, October 20, 2020 – Rastegar Property Company, a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest United States, announced today the acquisition of 5412 South Congress Avenue in Austin. Sitting on nearly one-acre of land, the property is the third and final property in the firm’s South Congress assemblage that includes 5402 South Congress and 106 Red Bird Lane. The three properties cover the two hard corners of Mockingbird Lane and Red Bird Lane with South Congress frontage. Located in a thriving area of South Austin, the Company’s redevelopment plans for the trio of properties, encompassing almost three acres of land, will join a mix of high-quality apartment and condo projects in the surrounding area. The planned multifamily development will be transformative to the area, providing an iconic building with a walkable environment, further connecting this area of south congress to the very lively stretch to the north. “After we closed on the first property at 5402 South Congress, we’ve had a vision to assemble this entire site and are truly excited to see it come to fruition,” said Ari Rastegar, Founder and CEO of Rastegar Property Company. “As Downtown Austin continues to grow in size and popularity, this assemblage of properties will provide frontage multifamily apartment units in a highly attractive central location, on one of the most famous streets in Austin, ensuring it to be one of the most sought-after areas of the city.” “As we move forward with our planned development for South Congress, we continue to remain committed and focused on enhancing the quality of life in south Austin and providing great housing for our growing population,” said Hunter Floyd, Director of Design and Development for Rastegar. “We understand and realize the importance of quality of living, especially post-COVID. For those reasons, this project will emphasize wellness, including air quality and outdoor amenities as well as provide spaces within units that create office niches for residents working from home.” The apartments will offer a range of amenities that have a specific appeal to wellness during and post-COVID including outdoor access and common areas providing greater air circulation, and more opportunity for social distancing. Additionally, Rastegar is familiar with using new materials including special light fixtures that have ultraviolet light and antimicrobial materials such as copper.

About Rastegar Property Company
Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States. Rastegar and its affiliates have co-invested in or directly own and operate over 13.8 million square feet of real estate across projects in 13 states and 38 cities. The firm specializes in acquiring complex or undervalued assets with opportunities to create value through repositioning, redevelopment, and/or improved operational efficiencies.

Media Contact
Rob Kreis
FischTank PR
rastegar@fischtankpr.com

RESOLUT RE Brokers Three Deals in Austin, Houston

RESOLUT RE recently completed three real estate transactions. The deals included sales and leases in the Austin and Houston markets. TitleMax has leased 1,229 square feet at 2604 W. Pecan Street in Pflugerville, Texas. Joey Mendez of RESOLUT RE represented the landlord. An undisclosed buyer has purchased the 21,540-square-foot industrial building at 1108 Kramer Lane in Austin. Andrew Perkel of RESOLUT RE represented the seller. Camp Bow Wow has purchased 0.84 acres at Sam Houston Parkway in Humble, Texas. Mayur Shah of RESOLUT RE represented the buyer. David Ferguson of BPI Realty represented the seller.

NorthMarq Negotiates Nearly $25M in Acquisition Financing for San Antonio Rental Property

NorthMarq arranged acquisition financing of $24.6 million for The Park on Wurzbach, a 264-unit multifamily property located at 4707 Wurzbach Road in San Antonio. NorthMarq arranged the 10-year financing for the borrower, Venterra Realty, through its in-house Fannie Mae team. Originating producers included Faron Thompson, regional managing director and Ali Meek, vice president of NorthMarq’s Atlanta office, and Matthew Bronstein, vice president of NorthMarq’s Houston office. The Park on Wurzbach provides ease of access to nearby I-410, Ingram Park Mall, Westover Hills, St. Mary’s University and major employment centers, including the South Texas Medical Center and USAA, making it a premier residential location. Constructed in 2019, the community is located just nine miles from downtown San Antonio. It features high-quality interior finishes, including stainless steel appliances, granite countertops, subway tile backsplash, wood plank flooring, and a washer and dryer. The property’s high-end community amenities include a two-level swimming pool, a 24-hour fitness center with a separate yoga and spin studio and a grand clubhouse with multiple TVs, kitchen, pool table and shuffleboard. Residents enjoy easy access to numerous dining and retail options surrounding the community. “Fannie Mae was able to provide a competitive financing option and certainty of execution for the long-time borrower, Venterra Realty, who leaned on their relationship with NorthMarq Atlanta’s team for a seamless transaction on a high-quality asset,” said Thompson. The NorthMarq Atlanta and Fannie Mae team met the borrower’s proceeds and timing request for a quick closing despite the current changing market conditions.

NewQuest Properties Brokers Two Texas Deals

NewQuest Properties facilitated two separate real estate transactions in Texas. 3 Amigos LLC has acquired 110 acres at the intersection of CR 54 and Airline Road West in Rosharon, Texas from a group of private investors. Brad Lybrand of NewQuest Properties represented the seller. Mike Malone of Vallone & Associates Inc. represented the buyer. Crawfish Café has leased 4,025 square feet of retail space in Fiesta Trails Center, 12635 Interstate 10 W., San Antonio, from WRI Fiesta Trails LP. John Nguyen and Grace La of NewQuest Properties represented the tenant. John Wise of Weingarten Realty represented the landlord.