IRVINE, Calif. – On average, house flippers have not been profiting from the housing market boom. According to ATTOM Data, average profits on house flipping fell from $71,000 in fourth quarter 2020 to $63,500 in first quarter 2021. The overall return on investment was 37.8 percent, making it the metric’s lowest point since 2011. Only 2.7 percent […]
Archives: June 2021
Springwoods Village rebrands, gets addition
SPRING – Springwoods Village, a 2,000-acre master-planned community south of The Woodlands, is rebranding to City Place and adding thousands of residential units. The first phase of the addition will include about 600 medium-density residential units. Work starts next year with model homes and a sales center opening in 2023. New York-based CDC Houston developed the master-planned […]
Partnership acquires 1,100-acre ranch near tollway extension
GUNTER – A partnership between Sanjay Singhania and GK Nanban Group has acquired the 1,100-acre Kalachandji’s Ranch in Grayson County. The purchase is along the future right-of-way of the Dallas North Tollway. Construction is underway on service roads for the tollway, which will extend north of US 380 to Celina and eventually Gunter. Homebuilders are scouting […]
Hertz Investment Group pics up 422-unit multifamily portfolio
AUSTIN – California-based Hertz Investment Group has acquired a three-property multifamily portfolio totaling 422 units. The assets include the: 132-unit Amor Apartments at 1200 Mearns Meadow Blvd., 130-unit Feliz at 1804 W. Rundbergy Ln., and 160-unit Vida Apartments at 1735 Rutland Dr. All assets were built in the 1980s and renamed under the Ascent brand. The unit mix includes 52 studio, […]
Hillwood planning 2M-sf warehouse project in Cedar Hill
CEDAR HILL – Work is underway on High Point 67 Logistics Center, Hillwood’s two million-sf, four-building industrial project. Phase one will include two speculative warehouses along S. US 67, one measuring 1.08 million sf and the other 220,000 sf. Construction begins in August and will wrap up by summer 2022. The buildings were designed by GSR Andrade Architects. CBRE is handling leasing. The Texas Real […]
What Do Experts See on the Horizon for the Second Half of the Year?
As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on […]
Florida investor snags Shops at Legacy North mixed-use center
PLANO – CTO Realty Growth Inc. has acquired The Shops at Legacy North from Inland Real Estate Group for $72.5 million. Built in 2005, the 236,000-sf retail and office center is at the northeast corner of the Dallas North Tollway and Legacy Dr. Tenants include The Capital Grille, Seasons 52, Mexican Sugar, Benihana, Ra Sushi, […]
Texas labor market recovery loses steam
COLLEGE STATION – Texas’ labor market recovery stalled in mid-June. Initial unemployment claims increased for two straight weeks to 21,400 claims the week ending June 19. About 5.22 million unemployment claims have been filed since March 21, 2020, according to U.S. Department of Labor (DOL) data. Continuing unemployment claims decreased to 187,900 the week ending June 12 and are getting closer to pre-pandemic levels. “Women in […]
Texas real GDP up in 1Q2021
WASHINGTON – Texas’ real gross domestic product (GDP) increased 4.3 percent at an annual rate in first quarter 2021, according to the Bureau of Economic Analysis. Durable goods manufacturing; administrative and support and waste management and remediation services; and professional, scientific, and technical services were the leading contributors to the increase in GDP. In the first quarter, Texas’ GDP represented […]
Gone to Texas: Californian companies choose Lone Star State
McKINNEY – According to Spectrum Location Services, California lost 23 corporate headquarters to Texas from Jan. 1 to June 23. Of the 53 headquarters moved out of the Golden State, 43.4 percent of them came to the Lone Star State. Since the beginning of 2018, 107 companies relocated their headquarters from California to Texas, with Dallas-Fort Worth and Austin as top destinations. […]