FUSE Workspace Set to Open Third Texas Location in Bee Cave October 1st

Flex Office Space Helps Businesses Build Connections, Focuses on Giving Back to the Community with ‘Do More’ Non-Profit Program

Austin, Texas (September 24, 2020). Texas-based FUSE Workspace, a provider of Class A flexible office workspace and hospitality designed to help businesses build connections and flourish, today announced the October 1st opening of its third location at 14425 Falcon Head Boulevard, Building E, in Bee Cave, Texas. “We are excited to announce the opening of our new Bee Cave location,” said FUSE Workspace Brand Manager John Herring. “Our building reflects the local ambience in architecture and elements, and sits atop a hill with sweeping views of the Hill Country and offers an abundance of natural light. More importantly, the building is located near everything Bee Cave and Lakeway have to offer. That’s in keeping with our ‘work local’ philosophy, which simply means we like to build FUSE office spaces close to where people live, work, and play.” Founded in 2018, FUSE Workspace’s Bee Cave location adds an additional 30,000 square feet to the firm’s existing portfolio of flex office and conference spaces. Other FUSE locations include Houston (CityCentre) and Prosper, Texas, a half-hour north of Dallas. With the opening of the Bee Cave location, FUSE’s portfolio will total 92,000 square feet, including 335 private offices, 20 conference rooms and three professionally-equipped podcast studios. The FUSE motto, “Do More,” merges outstanding hospitality with business-class amenities, helping businesses and organizations thrive. An important part of that philosophy is FUSE’s Do More Non-Profit Program. Each year, FUSE extends helpful benefits to 10 local nonprofit organizations per location, including free meeting space, podcast studio time and discounts on offices. Organizations can apply by emailing the program at BeeCave@fuseworkspace.com. FUSE’s Bee Cave location is conveniently located near the border of Lakeway and the city of Bee Cave,
adjacent to the Falconhead residential development and is a short 25-minute drive from downtown Austin. The space features 116 private offices, most with exterior window views; seven conference rooms, with seating for two to 50; a podcast studio; two outdoor patios with expansive views of the Hill Country; free covered parking; and a full-time concierge team to assist members and guests. FUSE Workspaces offer members and guests a professional yet casual environment, complete with enterprise internet speeds and high-quality finishes. The private offices start at $600/month and are fully furnished with one to seven electric sit-stand VARI desks in every office, glass walls and privacy film on FUSE Workspace Set to Open Third Texas Location in Bee Cave Page 2 of 2 the glass office fronts. Starting at $8,650/month, the enterprise office suites each come with three private offices and a large bullpen area. The FUSE café provides fruit-infused waters, free barista-style drinks and a grab-and-go market featuring local baked goods. In keeping with its commitment to minimizing its environmental impact and reducing the pull from the Austin electricity grid, the FUSE Workspace building incorporated LEED designed elements and includes a large solar panel array on the roof, occupancy-sensor lighting technology, and a recycling program. Herring said FUSE Workspace adheres to a five-level protocol response with regard to protecting tenants and guests from COVID-19 infection. Each location has personal protective equipment (PPE) available and focuses on intensive cleaning, social distancing and requiring masks. FUSE has already added several members prior to opening and is benefitting from the awareness COVID has brought that remote working is not only possible, but productive. The architecture and interior design for the Bee Cave FUSE Workspace is the result of a collaboration between Workplace Studios and Gary Brink and Associates Architects. The building’s exterior features Austin Stone and wood finishes, with large sitting areas and patios near a public greenspace and walkway. “Our goal is to support the outstanding work being done in the community we serve,” said General Manager Ashly Budd. “We chose Bee Cave because there is demand in the market for our type of business, and it is just a beautiful environment to live, work and play. We are excited to partner with the local schools, non-profit groups, faith centers, and local governments to give back to the community.” FUSE Bee Cave is pre-selling now and is offering attractive pre-opening specials to members who join before October 1. Interested parties can lease from the onsite sales staff, which welcomes walk-ins. FUSE is also providing a robust broker referral program. Short-term leases are available, but longer leases are necessary to lock in rates. Contact BeeCave@fuseworkspace.com or 512-717-0058 for more details or to arrange a tour, or contact Brand Manager John Herring at John.Herring@fuseworkspace.com or 770- 598-0604.

About Fuse Workspace

Founded in 2018, FUSE Workspace is a provider of Class A premier office workspace and hospitality designed to help businesses build connections and thrive, with offices in the Austin, Houston and Dallas metroplex. In addition to providing private offices, office suites and conference space, FUSE Workspace also provides a series of speaker events, lunch-and-learns, wellness programs, community service opportunities, as well as global needs awareness programs to help its members DO MORE for themselves, their community and the world. In 2019 FUSE Workspace was named the Prosper Business of the Year by the Prosper Chamber of Commerce. For more information, visit www.fuseworkspace.com.

Bellwether Enterprise Closes $88 Million in Loans for Affordable Housing Communities in Texas

Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., announced the closing of three loans totaling $88,435,000 for the creation and preservation of affordable multifamily housing communities in Austin and Garland, Texas. Phil Melton, executive vice president and national director of affordable and FHA production in Bellwether Enterprise’s Dallas office and Cindy Hannon, senior vice president in the Duluth, Georgia office, originated the three Texas loans. “These deals exemplify Bellwether Enterprise’s commitment to preserving and expanding affordable housing in Texas,” said Melton. “Well-constructed and maintained properties have the potential to revitalize their surrounding neighborhoods and Bellwether Enterprise is proud to support the development and preservation of thriving, affordable communities in Texas.” The three deals include a $42,670,000 Freddie Mac Unfunded Forward Tax-Exempt permanent loan for the construction of Austin Manor Apartments, a 280-unit, four percent, multifamily, low-income housing tax credit (LIHTC) housing development located at 6625 East Parmer Lane in East Austin. All buildings in the property will be elevator serviced and all units will be rent restricted at or below 60 percent of the area median income (AMI). On-site amenities will include a 6,000-square-foot clubhouse, swimming pool, sports courts and playground. The property will also provide family support services including counseling, adult education, health and nutrition courses and youth programs. A $32,650,000 Freddie Mac Unfunded Forward Tax-Exempt permanent loan will go toward the construction of Austin Colorado Creek, a 240-unit, affordable multifamily housing community located at 2917 Falwell Lane in the Austin-Round Rock metropolitan area. The property was financed with four percent low-income housing tax credits and will comprise ten, two-story buildings with a mix of one-, two-, three- and four-bedroom apartments. Eighty percent of the units will be rent restricted at or below 60 percent AMI and the remaining twenty percent will be rent restricted at or below 50 percent AMI. The development will feature a large clubhouse, including a business and community center, swimming pool, playground, carports and controlled access to the property. Finally, a $13,115,000 Freddie Mac refinance loan closed on City Square Artist Lofts, a 128-unit, nine percent LIHTC property located at 705 W Avenue B in downtown Garland, in the Dallas-Fort Worth metropolitan area. The development includes 88 multifamily housing units with rent restrictions varying between 30 percent and 60 percent of the AMI and 38 units at market rate. Common area amenities include a clubhouse, business center, fitness center, community kitchen, swimming pool and BBQ area. The development is a premier affordable housing property in Garland and played a key role in the revitalization of the neighborhood. A Regulatory Agreement set in place for 35 years will ensure the property’s long-term affordability.

RESOLUT RE Inks 20 Sale and Lease Deals Around Texas

RESOLUT RE recently completed 20 retail transactions throughout Texas. The deals included sales and leases in the Austin, Dallas, Houston and San Antonio markets. Clinica Hispana Rundberg has leased 1,346 square feet at Rundberg Square (825 E. Runberg Lane, Austin). Joey Mendez of RESOLUT RE represented the landlord. Discover PCR has leased 2,579 square feet at Market at Lake Creek (13776 US Hwy 183, Austin). Andrew Perkel and Michael Noteboom of RESOLUT RE represented the landlord. Donut/Taco has renewed at Cathollow Center (16420 RR 620 N, Round Rock, Texas). Michael Noteboom of RESOLUT RE represented the landlord. Enjoy Nails and Spa has leased 1,800 square feet at Shops at Domain (3310 W Braker Lane, Austin). Joey Mendez of RESOLUT RE represented the tenant. Dan Lewis of TIG Real Estate Services represented the landlord. Farmers Insurance has leased 689 square feet at Main Street at Twelfth (809 12th St, Marble Falls, Texas). Michael Noteboom and Jacob Nagy of RESOLUT RE represented the landlord. An undisclosed buyer has purchased the 42,134 square feet Town North Shopping Center at 8557 Research Boulevard in Austin. Andrew Perkel of RESOLUT RE represented the seller. Lynn Yuan of Real International Realty represented the buyer. Lewisville Boxing Team Center has leased 1,680 square feet at South Mill Plaza (782 South Mill Street, Lewisville, Texas). Stephanie Jacobs, Mai Nguyen and Jeff Lewin of RESOLUT RE represented the landlord. CBD Pros has leased 1,300 square feet at Concourse Crossing (1300 Airway Boulevard, El Paso). Chris Duncan and Jeff Lewin of RESOLUT RE represented the tenant. Jellos Liquor has leased 971 square feet at Market at Bees Creek (4225 Sienna Parkway, Missouri City, Texas). Rick Gutierrez and Marcus Banasik of RESOLUT RE represented the landlord. Katy Pure Water has leased 1,000 square feet at Brenwood Plaza (18859 W Little York Road, Katy, Texas). Rick Gutierrez and Davis Amanyisye of RESOLUT RE represented the landlord. La Casona Mexican Restaurant & Cantina has renewed at Wharton Retail Shopping Center (10314 US-59, Wharton, Texas). Taki Dallis of RESOLUT RE represented the landlord. Authorized Inspections has renewed at Three Weiman Center (14531 FM 529, Houston). Dani Allison of RESOLUT RE represented the landlord. Tony Allen of Pollan Hausman Real Estate Services represented the tenant. Cheveux by Esor has leased 963 square feet at Westwood Village Shopping Center (9615 Southwest Fwy, Houston). Eric Broussard and Benny Nguyen of RESOLUT RE represented the landlord. Lefty’s Cheesesteaks has leased 1,777 square feet at Federal Shopping Center (1000 Federal Road, Houston). Joaquin Orozco and Eric Broussard of RESOLUT RE represented the tenant. Michael Moulton of Weingarten Realty represented the landlord. Smoke World has leased 1,080 square feet at Four Corners Shopping Center (12807 Westheimer Road, Houston). Davis Amanyisye of RESOLUT RE represented the tenant. Aphrodite’s Closet has leased 1,500 square feet at Judson Business Center (13777 Judson Road, San Antonio). Carolyn Bustamante and Aisha Chapa of RESOLUT RE represented the landlord. Royal Liquor has leased 1,512 square feet at Grandview Shopping Center (8005 Callaghan Road, San Antonio). Carolyn Bustamante and Aisha Chapa of RESOLUT RE represented the landlord. An undisclosed buyer has purchased the 3,309 square feet Bus 83 freestanding building at 1514 US-83 BUS in Mission, Texas. Larry Leahy and Patricia Rodriquez of RESOLUT RE represented the seller. Omar Alanis of La Paloma Realty represented the buyer. An undisclosed buyer has purchased the 2,965 square feet building at 206 E Expressway 83 in La Joya, Texas. Larry Leahy of RESOLUT RE represented the seller. Juan Pena of Coldwell Banker represented the buyer. An undisclosed buyer has purchased 3.52 acres at the LOVE’S pad site in Lubbock (901 County Road 6200, Lubbock, Texas). Wes Tune and Mohamed Gamal of RESOLUT RE represented the seller.

Construction Wraps on Austin’s 308-Unit Citadel at Tech Ridge

Inland National Development Company (INDC) and co-developer, Cambridge Development Group, announced that construction of North Austin’s newest luxury multifamily community, Citadel at Tech Ridge, was completed in June 2020 ahead of schedule and under budget. Additionally, at the end of August 2020, 62 percent of units had been leased and 170 units were occupied. Citadel at Tech Ridge is located on 14.8 acres at 1127 Pearl Retreat Lane, in the heart of North Austin’s Tech Ridge. This luxury, Class A gated community consists of one-, two- and three-bedroom residences, totaling 308 units in 12 three-story stone and wood frame buildings. Each unit features an open floorplan design with in-unit washers and dryers, designer lighting, Energy Star appliances and private balconies or patios. Community amenities include a resort-style swimming pool, dog park, pet spa, electric vehicle charging stations, a clubhouse with a cybercafé, resident lounge and state-of-the-art fitness center. Citadel at Tech Ridge also benefits from close proximity to I-35, a CapMetro Park and Ride location and leading grocer, H-E-B. “Austin’s vibrant Tech Ridge neighborhood is a highly desirable, rapidly growing location, drawing thousands of new residents annually,” said Anthony Casaccio, president and CEO of INDC. “Our teams worked tirelessly against a challenging environment to deliver Citadel at Tech Ridge to North Austin’s surging population ahead of schedule. Our leasing figures underscore the considerable interest and desire residents have to live in this upscale, luxury community.” Citadel at Tech Ridge is located just east of the Tech Ridge Business Park and less than one mile from the 400-acre master planned Parmer Business Park, a technology and office park experiencing tremendous growth with the addition of BAE Systems’ $150 million facility. Additionally, the recently announced Tesla “Gigafactory” is under development in Southeast Austin, approximately 11 miles south of Citadel at Tech Ridge. North Austin is also home to major employers such as Samsung, General Motors (IT Division), Dell Computer, Apple, IBM and others.

Texas Healthcare Portfolio Trades for $7.1 Million

Matthews Real Estate Investment Services facilitated the sale of a Radiology and Imaging of South Texas portfolio in Corpus Christi, Texas. Montecito Medical Real Estate acquired the properties for $7.1 million. Matthews associate vice president and director Michael Moreno, associate vice president and director Rahul Chhajed, and associate Kyle Mackulak brokered the transaction. The healthcare assets are located at 3226 South Alameda Street and 2825 Spohn South Drive in Corpus Christi. The tenant, Radiology and Imaging of South Texas is the largest area provider of imaging services and has contracts with most major local hospitals. The Spohn Drive location is directly across from the Christus Spohn Hospital Corpus Christi-South, off Saratoga Boulevard. The South Alameda drive location is one block from the Corpus Christi Medical Center and the W.B. Ray Highschool. The South Alameda property was built in 1970 and consists of 13,179 square feet and The Spohn Drive location has 15,338 square feet and was built in 2007. “This particular transaction shows the strong investor interest in physician-backed real estate and the ability for healthcare operators to monetize their real estate,” said Mackulak. “This was a very complicated deal with many moving parts; however, we were able to successfully manage the various challenges that arose during escrow.” Healthcare properties are extremely sought-after investments for their resistance to downturns in the economy and e-commerce trends that affect traditional retail properties. The seller, Radiology and Imaging of South Texas wanted to pull capital out and find a strong institutional partner. The buyer, Montecito Medical Real Estate was sourced by Matthews agents and is one of the most active buyers of medical real estate in the nation. “A few items came up during the escrow process that almost got in the way of closing. For instance, we needed to receive a parking variance, which meant getting approval from the city,” said Moreno. “Our tenacity, deal-making experience, and never say no attitude allowed us to keep pushing the rock up the hill and pivot as needed to ensure we reached our target goal.”

Experts Say Creating ‘Mini Cities’ in Austin Could Ease Traffic and Affordability Issues

There’s lots to love about Austin — the nightlife, the food, the Butler Hike-and-Bike Trail, and so on. But there are two major things we love to hate about our city: increasingly jammed traffic and increasingly unaffordable housing. A new report indicates Austin could tackle both of those nagging issues by taking advantage of more than 1,300 acres for what essentially would become mini cities within the larger city. In a report, experts assembled by the Urban Land Institute identified 1,350 acres within Austin that could fit into the city’s current zoning framework for “transit-oriented development,” or TOD. Anchored by a transit station, a TOD features a mix of office, residential, retail, entertainment, and other spaces in a compact walkable and bikeable area. The report says the 1,350 acres consist of parcels located within one-fourth of a mile of existing MetroRail commuter tracks and existing high-frequency bus routes. Furthermore, another 400 acres along two proposed new MetroRail lines would also be ripe for TOD status, according to the report. An interactive map created in tandem with the report shows many of these TOD-ready parcels are located:
Along I-35 in South Austin, between West Dittmar Road and West Slaughter Lane. Along State Highway 71 East near U.S. Highway 183 East, just west of Austin-Bergstrom International Airport. Along North Lamar Boulevard near U.S. Highway 183 West. Advocates of TODs tout their ability to boost public transit ridership, reduce dependence on cars, encourage construction of affordable housing, and promote responsible use of land. Click to read more at www.austin.culturemap.com.