SVN® Expands Presence in Texas with the Addition of SVN | J. Beard Real Estate – Greater Houston

After 18 years, The Woodlands-based commercial real estate firm springboards its resources by joining forces with SVN, a global leader in commercial real estate.

Boston, Oct. 14, 2021 (GLOBE NEWSWIRE) — SVN International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, announces the addition of its newest franchise office, SVN | J. Beard Real Estate – Greater Houston. Led by Managing Director Jeff Beard, CCIM, the firm’s services encompass leasing, brokerage, site acquisition, property management, development, consulting, and landlord/tenant representation services.

Headquartered in The Woodlands, Texas, located north of Houston, The J. Beard Real Estate Company was established in 2003 and is now one of the top commercial real estate brokerage firms and an industry leader in the Greater Houston area.

“On the heels of our 18th anniversary, the timing for this strategic alignment couldn’t be more ideal,” says Beard. “Our team is stronger than ever. We have grown over the years despite challenges like the ’08 financial crisis, dramatic swings from the local economy’s energy sector, natural disasters, and most recently, the global pandemic. Each and every time, our team pulled together and has emerged bigger and better.”

Beard continued, “It is important to note that the ownership and the client-centered culture of our firm haven’t changed. We will continue to have the same boutique focus on quality relationships with the same core values that our team embraces. Click to read more at www.globenewswire.com.

IRA Capital Acquires Digestive Disease Institute Building in Beaumont

IRA Capital (“IRA”) is pleased to announce the acquisition of The Digestive Disease Institute, a 21,000 square foot gastroenterology-focused medical office building and surgery center located in Beaumont, TX (“the Property”). The Property was constructed in 2005 and is 100% leased to two tenants, GI Alliance (“GIA”) and the Endoscopy Center of Southeast Texas. In 2019, GI Alliance became a tenant at the property through its partnership with Southeast Texas Gastroenterology Associates (“SETGA”), which has a long operating history at the property as the leading provider of gastrointestinal care for East Texas and parts of Louisiana. The GIA Alliance and SETGA partnership positions the practice for accelerated growth due to the efficiencies, resources, and operational support provided by GIA. GIA is the largest physician-led Gastroenterology network in the US – operating 150 centers across 8 states with over 400 GI physicians.

The Endoscopy Center of Southeast Texas is the other tenant at the Property and provides patients with convenient access to a premier outpatient surgery center and clinic under one roof. The highly specialized surgery center is a joint venture between the physician partners and AMSURG, which manages and operates the 5-operating room facility specializing in the prevention, diagnosis, and treatment of gastrointestinal diseases. AMSURG is among the leading surgery center operators in the US, with over 250 surgery centers across 34 states.

The transaction marks IRA Capital’s fourth medical office acquisition in Texas this year. In July, IRA acquired three gastroenterology-focused medical office buildings in San Antonio, which were 100% leased to a wholly-owned subsidiary of GI Alliance. According to IRA Capital Vice President Andrew Tran, “there were several attractive attributes which led us to pursue the acquisition, including the facility’s strong operating history, along with its strategic location directly across from CHRISTUS’ 350-bed St. Elizabeth hospital.” IRA Capital co-founder Amer Kasm adds, “IRA is pleased to continue expanding its relationship with GI Alliance, which strongly aligns with our focus of growing strategic partnerships to operate best-in-class medical properties.”

S2 Capital Becomes Largest Multifamily Buyer in Texas Over the Past 24 Months

S2 Capital is now the largest multifamily buyer in Texas with its latest four-property acquisition, bringing its total number of units in the Lone Star State to 16,000.

The four-property transaction, totaling 1,893 units, includes Hyde Park at Montfort in Dallas (662 units), Twin Creeks Crossing I (347 units) and Twin Creeks Crossing II (330 units) in Allen, and Tintara at Canyon Creek in Austin (554 units).

S2 plans to spend more than $7.2 million on renovations at the Tintara at Canyon Creek property, some of which include upgrading the pool, leasing office, gym, flooring, appliances and countertops. Additionally, S2 will spend more than $6.6 million on Hyde Park at Montfort renovations, including upgrading finishes to balcony fencing and railing, landscaping and the swimming pool exterior, while implementing new flooring and materials on the interiors.

“When Covid first hit, S2 quickly recognized that the market trends we witnessed in Texas and the Sunbelt pre-pandemic were going to dramatically accelerate in a post-pandemic environment,” said S2 Capital CEO Scott Everett. “The 10-Year Treasury spread to cap rates jumped 300 basis points overnight and we started buying as much as we could handle. I’m very proud of our team’s ability to acquire 13,000 units totaling $2.5 billion in the past 24 months, and we have no plans of slowing down.”

Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq’s Dallas investment sales team represented the seller of the transaction, which closed on Sept. 30. NorthMarq’s Dallas Debt/Equity team of Executive Vice President/Executive Managing Director Jeffrey Erxleben, Senior Vice President Lauren Bresky, Vice President Kevin Leamy, and Investment Analyst Loren Heikenfeld arranged floating rate debt that was heavily tailored to the sponsors business plan.

“This was a true team effort for TKG/Provident, S2 Capital and NorthMarq,” said NorthMarq Senior Vice President James Roberts. “The seller had amassed a sizeable portfolio of assets spanning multiple markets and product types which was very appealing to S2. This sale rounds out over $1 billion for our Dallas team in September which speaks to investor appetite for multifamily in Texas.”

“The sponsor elected to go with Blackstone as their balance sheet bridge lender who offered certainty of execution at very attractive terms,” Erxleben said. “The quality of this portfolio and Sponsor aided our ability to deliver a market leading financing.”

S2 currently has $1.1 billion under contract to sell between now and Dec. 1 across 21 deals resulting in a blended net internal rate of return for its investors of 41% and a 2.4 LP MOIC. S2 will transact on $4 billion this year across 54 transactions.