Webster
REAL ESTATE
Harris County homeowners get properties deeded back after KPRC 2 story on alleged fraud
HOUSTON – Harris County homeowners are celebrating a big win two days after a KPRC 2 story about their shock to find out their property deeds had been transferred to a total stranger. The deeds have now been put back into their names with help from local attorneys Marianne...
New real estate commission rules
HOUSTON - As a result of a more than $400 million settlement, new regulations will change how people work with their realtor. Home buyers will now be required to sign agreements specifying how much their agents will be paid. FOX 26 Houston is now on the FOX LOCAL app available...
Only 1% of tax-exempt units in Houston target the needs of very low-income renters
An audit of the Houston Housing Authority reveals there’s a disconnect between the goal and outcomes of controversial tax deals that are supposed to create more affordable housing in the city. The housing authority exempts certain apartment complexes from property taxes in exchange for making some units affordable to...
Real Estate Briefs – Texas & more
RNR Real Estate Briefs from Realty News Report – HOUSTON — Edge Capital Markets brokered the sale of Southwest Corporate Center at 9700 and 9702 Bissonnet St. Micha van Marcke and Chace Henke of Edge represented the seller. Southwest Corporate Center is a renovated 525,580 SF office and medical campus anchored by Texas Children’s Pediatrics, the State of Texas and DIRECTV. The campus sits on 39 acres near Highway 59 South and Sam Houston Tollway. The property offers turn-key suites primed for lease-up, and 8.6 acres of land. The infill property was sold in a competitive live bid event.
InterFace Panel: When It Comes to Amenities in Today’s Multifamily Market, Sometimes Less Is More
HOUSTON — Within the world of multifamily development, the “amenities arms race” has become a well-documented trend over the past decade, a contest to curate and deliver the most appealing combination of entertainment and wellness features and activities to woo prospective renters. In many instances, this approach...
Zeus Healthcare's Grand Forum Wins 2024 REDnews Commercial Real Estate Award
In a significant achievement for adaptive reuse and innovative design in healthcare real estate, Zeus Healthcare’s Grand Forum has been awarded the 2024 REDnews Commercial Real Estate Award in the Medical Property category. The award, presented on August 15, 2024, recognizes projects that demonstrate excellence in real estate development,...
NAS Investment Solutions Unveils New Investment Opportunity with Acquisition of North Houston Multifamily Property Tranquility Grove Townhomes
NAS Investment Solutions, a national property investment sponsor known for high quality passive real estate investments with reliable yield performance, has created a new opportunity for accredited real estate investors with the acquisition of Tranquility Grove Townhomes. Tranquility Grove Townhomes is in a prime North Houston location, surrounded by a...
Houston home sales rise in July as luxury segment surges
Houston home sales posted a modest year-over-year increase in July as Hurricane Beryl, which left 2.2 million households without power, delayed some closings, according to the latest Market Update from the Houston Association of REALTORS®. Single-family home sales rose 1.8% year over year, with 7,635 units sold compared to...
Hines to Lead Convention Center Development
HOUSTON – (Realty News Report) – Hines, the global real estate developer based in Houston, has been selected to lead a major expansion of the George R. Brown Convention Center in Downtown Houston. The expansion is expected to add 500,000 SF of space on the south side of...
Historic Houston Buildings Acquired by Foreclosure
Interra Capital Group acquired the historic Esperson complex in downtown Houston by foreclosure through a note purchased from MetLife. It’s at 808 Travis Street. Interra was the highest bidder at the foreclosure sale, paying $12 million. The seller was Contrarian Capital Management, which has owned the buildings since 2012. Commercial Edge reports that the original note totaled $52.8 million and was issued in 2018. It was then amended in 2022 and reduced to a $41 million loan. Cameron Management led the foreclosure process, and it will continue to act as the Property and Facilities Management team at the asset for a designated period.
Houston Housing Authority opens new affordable-housing complex in East End
The Houston Housing Authority (HHA) recently opened its newest affordable-housing complex, The Lawndale, in Houston’s East End. The mixed-income community “is strategically designed to provide accessible, affordable housing for those who are vital to keeping Houston running smoothly,” HHA said in an announcement. Over half of the 106 apartments are set aside for any HHA-qualifying families and residents.
Apartment construction surges nationwide and in Houston
U.S. apartment construction is expected to hit a historic high of more than 500,000 new units this year, a new study from RentCafe found, and Houston is helping lead the surge. The influx represents a 9% increase compared to last year and a 30% jump from 2022. Greater Houston ranked...
New listings surge 23.3% in Houston
New listings in Houston jumped 23.3% year over year in the week ended Aug. 12, according to the Weekly Activity Snapshot from the Houston Association of REALTORS® (HAR). Realtors added 3,647 properties to the MLS, up from 2,959 properties during the same week in 2023. Pending listings, meanwhile, dipped 4% to 2,076.
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