CASE Commercial Real Estate Partners, Inc. Closes Sale of 524-Acre Single-Family Development Site – Reunion Ranch – in SW Austin
CASE Commercial Real Estate Partners, Inc. (CASE), with headquarters in Dallas, today announced it has closed the sale of Reunion Ranch, a 524 acre, fully entitled, single-family development site located in Dripping Springs, TX, just 16 miles southwest of downtown Austin.
Dallas, TX, April 05, 2012 --(PR.com)-- CASE Commercial Real Estate Partners, Inc. (CASE) today announced it has closed the sale of Reunion Ranch, a 524 acre, fully entitled, single-family development site located in Dripping Springs, TX, just 16 miles southwest of downtown Austin.
CASE’s Bruce Endendyk, Managing Director; and John Endendyk, Senior Director; marketed the asset on behalf of the seller, Frank Krasovec, owner of Norwood Investments, a private investment company based in Austin. The land was purchased by Taylor Morrison, a national private homebuilder based in Scottsdale, Ariz.
“We are excited to have assisted with the closing of Reunion Ranch, considered by many as one of the highest profile land sites in Austin,” says B. Endendyk. “We believe that this sale, along with the buzz surrounding the deal, marks an important milestone that indicates investors are feeling optimistic again. Activity for all of our assets has accelerated exponentially over the past few months and we don’t see any slowdown in sight. In particular, we see buyers from beyond the borders of Austin and Texas looking for sites in Central Texas.”
Over the past twelve months, the CASE Land Services group has sold over 700 acres of development sites located throughout Texas valued at over $50 million. In addition, the team has recently hired Scott Davis as Senior Director who will assist by covering the greater Houston area including Sugarland, Baytown, and Galveston. Davis was formally with NAI Houston as an Executive Vice President.
“Texas is the beneficiary of a rapidly growing population that will need more development in every aspect of life – housing, offices, retail, etc.,” says Tom Sutherland, principal of CASE. “Our Land Services group is at the forefront of the activity as new projects are starting to get financed by bank loans. We see a strong rest of the year for those companies like ours that remain solely committed to Texas.”
Reunion Ranch benefits from excellent access to the city of Austin via the newly completed southern section of SH 45, Mopac/Loop 1, and FM 1826. It is currently zoned Single Family Residential for 476 lots with an average lot size of .34 acres and lot frontage of 70’ to 125’. Reunion Ranch is approximately 16 miles from downtown Austin, and 20 miles from Austin-Bergstrom International Airport. The site is only 170 miles from Houston, 209 miles from Dallas and 80 miles from San Antonio.
CASE’s Bruce Endendyk, Managing Director; and John Endendyk, Senior Director; marketed the asset on behalf of the seller, Frank Krasovec, owner of Norwood Investments, a private investment company based in Austin. The land was purchased by Taylor Morrison, a national private homebuilder based in Scottsdale, Ariz.
“We are excited to have assisted with the closing of Reunion Ranch, considered by many as one of the highest profile land sites in Austin,” says B. Endendyk. “We believe that this sale, along with the buzz surrounding the deal, marks an important milestone that indicates investors are feeling optimistic again. Activity for all of our assets has accelerated exponentially over the past few months and we don’t see any slowdown in sight. In particular, we see buyers from beyond the borders of Austin and Texas looking for sites in Central Texas.”
Over the past twelve months, the CASE Land Services group has sold over 700 acres of development sites located throughout Texas valued at over $50 million. In addition, the team has recently hired Scott Davis as Senior Director who will assist by covering the greater Houston area including Sugarland, Baytown, and Galveston. Davis was formally with NAI Houston as an Executive Vice President.
“Texas is the beneficiary of a rapidly growing population that will need more development in every aspect of life – housing, offices, retail, etc.,” says Tom Sutherland, principal of CASE. “Our Land Services group is at the forefront of the activity as new projects are starting to get financed by bank loans. We see a strong rest of the year for those companies like ours that remain solely committed to Texas.”
Reunion Ranch benefits from excellent access to the city of Austin via the newly completed southern section of SH 45, Mopac/Loop 1, and FM 1826. It is currently zoned Single Family Residential for 476 lots with an average lot size of .34 acres and lot frontage of 70’ to 125’. Reunion Ranch is approximately 16 miles from downtown Austin, and 20 miles from Austin-Bergstrom International Airport. The site is only 170 miles from Houston, 209 miles from Dallas and 80 miles from San Antonio.
Contact
CASE Commercial Real Estate Partners
Whitney Davidson
972-759-7830
www.casecre.com
Whitney Davidson
972-759-7830
www.casecre.com
Contact
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