Partners Real Estate announced that Evergen Equity has successfully acquired an industrial outdoor storage project in Southwest San Antonio’s manufacturing hub.

Partners, which was already actively involved in the leasing of the property, will continue its role under the new ownership, ensuring seamless operations and strategic growth.

The acquired property, located at Speedway Park, Von Ormy, Texas, includes approximately 26 acres tailored for industrial use, making it a significant addition to Evergen Equity’s portfolio. This area, noted for its limited IOS supply, is adjacent to major manufacturing facilities including Toyota Motor Corporation, Navistar Inc., and JCB, which have recently invested over $1 billion into local operations.

Troy Marcus, Evergen Equity’s Founder expressed enthusiasm about the acquisition, stating, “This strategic purchase not only expands our footprint in a key manufacturing zone but also enhances our portfolio with a high-potential industrial outdoor storage assets from the Port of Los Angeles to the Port of Savannah. We are pleased to continue our partnership with Partners Real Estate to manage the leasing aspects, ensuring top-tier service for our tenants and maximized asset performance for the community.”

The property features a comprehensive setup including a 7,500 sq. ft. truck terminal with office space and service bays, and a large, stabilized yard, making it ideal for supporting high-volume industrial activities.

RangeWater Real Estate and equity partner Harbert US Real Estate acquired an expansive residential community in the growing Round Rock submarket of Austin, Texas.

The joint venture purchased Rock Springs Duplexes located at 1338 Christopher Ave in Round Rock. The acquisition is part of rental housing industry leader RangeWater’s strategy to continue meeting housing demand by purchasing communities in desirable neighborhoods across the Sun Belt. The acquisition price was not disclosed.

RangeWater continues to look for new land sites and existing properties throughout the Austin-Round Rock MSA market. The company currently manages over 2,300 units across Texas, and this will be its third asset in the Austin metropolitan area.  Their most recent development, The Darby, completed in 2024, is a 350-unit multifamily project located in Manor, a suburb of North Austin.  RangeWater will serve as property manager for Rock Springs Duplexes.

Rock Springs Duplexes features 108 three-bedroom, two-bath, and 42 three-bedroom, 2.5-bath homes, ranging from 968 to1,280 square feet. Built in two phases (Phase I in 1985 and Phase II in 1996), the unique style duplexes feature high-end finishes throughout the residences. Each home features an attached direct-access garage, driveway parking space, full-sized washers and dryers, and a private fenced backyard. 

The expansive floor plans include separate dining and living areas; modern kitchens featuring quartz countertops, black appliances, kitchen tile backsplash, gas stove-top and oven, ceiling fans, and wood plank vinyl flooring. Rock Springs Duplexes amenities include a fitness center with cardio and free weight equipment, a coffee bar and a community kitchen.  RangeWater will make minor improvements to the property to maintain a competitive edge over neighboring communities in Round Rock.

Situated in the rapidly growing suburb of Austin, Rock Springs Duplexes benefits from strong employment growth from Round Rock and North Austin.  The residential community is just a five-minute drive from Dell’s headquarters, which employs over 14,000 people. Additionally, major companies like Apple and Samsung have invested billions in new corporate campuses in the area. Just 15 minutes from the property, the 3.3 million square foot mixed-use project, Parmer Austin, is expanding and attracting businesses such as Home Depot, 3M, and IBM, along with Austin FC’s practice facility. The area also features The Pitch, which offers a variety of bars, restaurants, two 18-hole mini golf courses, and pickleball courts.

As inflation costs increase and rising property values lead to higher taxes,
today’s commercial property owners and management companies have to
make every dollar count. Fighting back against unfair property values is a
crucial piece of the puzzle — but knowing who to trust with the work, and
how best to protect your interests, isn’t easy.
Large property tax firms are acquiring smaller operations more and more
frequently, often resulting in rate hikes and shifts in business that do more
harm than good. For property owners or management companies whose
longtime firms do change hands, it’s important to look out for key warning
signs that could spell financial trouble down the line. Let’s take a look at
why these acquisitions are happening and ways you can protect yourself
and your investment.

The Shift Toward Fewer, More Corporate Property Tax Firms
This trend of smaller, locally owned firms selling to big corporations began
in the late 2000s. As property values increased and property taxes
followed, corporations saw the chance to grow their market share. Later, as
mom-andpop property tax firms felt financial pressures from the COVID-19
pandemic, buyouts gained momentum.
Consolidations have become common throughout the U.S., but certain
regions feel the effects more than others. Here in Texas, where there is no
state income tax, property taxes are a substantial source of revenue for
local governments — and a prime opportunity for property tax firms
seeking to expand. Meanwhile, states with elevated property values, such
as New York and California, often have high tax rates that drive demand
for protest services. This makes them attractive to large firms looking to
grow their business by eliminating the competition.

Red Flags to Watch for Following a Merger
What happens if the property tax firm you’ve trusted for years suddenly
switches hands? Property owners who’ve experienced this frequently
mention rate increases and unhappy shifts in business models. And
whether change comes immediately or years down the line, even subtle
shifts can impact business in big ways. Here are some warning signs to
watch for following an acquisition.

• Loss of Local Expertise: The most effective property tax protest
firms understand local laws and markets while maintaining established
relationships with county tax authorities. Shifts to more corporate,
centralized operations often lose that specialized knowledge, potentially
impacting your protest outcomes in negative ways.

• Diminishing Service Quality: Turnover often increases following
a purchase, potentially pairing property owners with less experienced
Resilience in Real Estate: Helping Commercial account managers who may
not fully understand local nuances. In addition, when cost-cutting
measures reduce staffing, you might experience lower response rates and
poorer protest outcomes as overburdened employees take on too much work.
• Contractual or Fee Changes: It’s important to carefully review service
agreements following a purchase. Watch for modifications that reduce
accountability, increase fees or lock you into long-term contracts that could
impact budgets.

Swaying the Odds in Your Favor
Appealing high commercial property taxes can save your business
thousands each year, but protests must be approached the right way. If you
don’t feel your appeal is receiving adequate attention or expertise, it’s
important to stick up for yourself. Here are some tips to help keep appeals
on track.

• Be OK with Being the Squeaky Wheel: Has your firm failed to alert you
to upcoming deadlines? Is it unclear where your protest stands? Have
recent bills featured unknown charges? Bring concerns to your firm’s
attention. A trustworthy company should be willing to discuss your issues
and make things right where situations call for it.

• Familiarize Yourself with the Protest Process: Understanding a
protest’s steps, deadlines and what’s required to prove a case can help you
pinpoint instances where a firm’s service is lacking. If something doesn’t
seem right, or if you have questions, speak up.

• Don’t Be Afraid to Look Elsewhere: Switching firms can be intimidating,
but with so much riding on your protest’s outcome, it’s often worth it. Here
are some factors to consider during your search.

o Are They Local? A firm rooted in your home state will understand
the laws and market conditions behind your property taxes, the
inner workings of your county appraisal district (CAD) and the
best way to approach your case.

o Where Do They Do Business? If you have properties spanning
multiple cities or states, you’ll want a firm that can serve on all
fronts. My firm, for instance, is located in Houston but protests
throughout Texas and into Colorado, Arizona and beyond.

o Do They Have Staying Power? Seek a firm that’s established,
maintains a proven track record and has a solid reputation. Do a
deep dive into their website and online reviews, and consider
asking for references.

It isn’t easy when the company you’ve always trusted to protest your unfair
property tax protests changes hands, but it isn’t the end of the world. By
staying vigilant and strategic — and being willing to stand up for yourself.

DXD Capital broke ground on a multi-story, Class-A, climate-controlled storage facility in San Antonio, Texas.

The facility will be located at 11202 Misty Woods St. and will offer 870 individual storage units totaling 80,490 net rentable square feet. The facility features two levels of ground floor units and excellent visibility and access to West Loop 1604.

Reliable Commercial Construction is the general contractor, and Wintrust is the construction lender. Extra Space Storage will manage this facility.

The property was acquired in July 2024. To date, DXD has invested in nineteen self storage developments and one seven-facility portfolio acquisition across the United States.

The facility is expected to open in Q3 of 2025

 JLL Capital Markets announced today it secured the $227 million refinancing for The Union, an iconic mixed-use development within the Uptown submarket of Dallas, Texas.

JLL worked on behalf of a joint venture between KB Asset Management Co., Ltd. and RED Development to secure the two-year loan with three one-year extension options with Goldman Sachs.

The property consists of The Union’s office and retail components, totaling 505,994 square feet, which are 98% leased. The 21-story office tower, completed in 2018, includes nine levels of garage parking and market-leading amenities, including a greenspace amenity deck with entertainment space, a tenant lounge, a fully equipped conference center and a state-of-the-art fitness facility with locker rooms. Additionally, the office tower is leased to a collection of investment-worthy tenants, including Salesforce, Invesco, Akin Gump and Weaver.

The retail space at The Union Dallas is anchored by a Tom Thumb grocery store and the first and only locations in Dallas for Fox Restaurant Concepts The Henry and North Italia.

Located in the heart of Uptown, The Union offers easy access to Victory Park, Harwood District and Downtown. The property also boasts excellent connectivity via Woodall Rogers Freeway, McKinney Avenue Trolley and DART Rail station.

The JLL Debt Advisory team was led by Senior Managing Director Jim Curtin, Managing Director Greg Napper and Vice President Rex Cruz.

Cove Capital Investments completed the purchase of The Peanut Factory Lofts, a multifamily asset in downtown San Antonio, Texas.

The acquisition will establish the Cove Capital San Antonio Multifamily 74 DST, a Regulation D, Rule 506(c) offering that aims to raise $18,679,418.00 in equity.

According to Dwight Kay, Managing Member and Founding Partner of Cove Capital Investments, this unique asset was an all-cash acquisition and is considered a high quality addition to the firm’s growing portfolio of debt-free Delaware Statutory Trust real estate assets for 1031 exchange and direct cash investors.

Cove Capital immediately inserted its property management team with over 40 years of experience to oversee the day-to-day management of the asset. This property management team physically lives in San Antonio, ensuring a thorough understanding of the market dynamics and providing true boots and eyes on the ground.

In addition to the investment fundamentals of the San Antonio Multifamily 74 DST, several architectural aspects make this property a unique addition to the Cove Capital Investments portfolio.

This latest Cove Capital acquisition also offers a host of premium amenities, including private garages, a coffee bar, a courtyard, door-to-door trash pick-up, a dog park, a fitness center, and a resort-style pool with cabana.