Real Estate Corner – February 2020

by Ron Holmes, 20 Feb 2020.

Despite burdensome regulatory restrictions in certain cities in which we are representing developers (e.g., Austin and San Francisco), we continue to see strength across the real estate spectrum in the Texas major cities and both Coasts.

We are assisting in the development of two projects of particular regulatory note. One project in San Francisco is four years into the permitting process and still isn’t there. Another project in Austin is more than two years into the permitting process and still isn’t there.

It seems to us more and more cities are making development more difficult. Perhaps that’s a partial explanation for why the real estate market is strong, but not explosive.

Below are some representative transactions in which we have been involved since our last newsletter:

• Represented the Owner in the permanent financing of The Katy, a 30 story, 463-unit luxury apartment community in the Victory Park area of Dallas, Texas.
• Represented the Landlord in leasing approximately 400,000 square feet of industrial space to a single user in the DFW area.
• Represented the Seller in the sale of an approximately 380,000 square feet industrial warehouse facility in DeSoto, Texas.
• Represented the Owner in the sale of a freestanding retail facility in the Knox/Henderson area of Dallas, Texas.
• Represented the Owner in the hard corner sale of unimproved land for a hotel development in Dallas, Texas.
• Represented the Purchaser/Developer in the acquisition of unimproved land in Surprise, Arizona and Garland, Texas for self-storage developments.

Happy Permitting!