Projects in Progress
Multi-Family
Office
Industrial
Single Family Developments
The Shops at Silverado
Quorum Center
Preston North Financial Center
Concorde on the Creek
Monterrey Point Apartments
The Fairways on the Fazio
 
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Case Study :
 
The Shops at Silverado – Cedar Park, Texas
 

Aerial of The Shops at Silverado

Shops at Silverado – Building 1

The Shop at Silverado – Building 2

 
Development Strategy:
  • Acquire two hard corner lots totaling 3.58 acres located at a signalized intersection within a hot retail corridor in North Austin/ Cedar Park, Texas.
  • Design, construct, lease, manage and sell a two building 34,300 sq. ft. neighborhood retail project in a high growth submarket.
  • Achieve above average returns on investment.
 
Implementation:
  • Experienced and stringent hands-on management of the development process and the construction of the property itself to ensure on time and on budget project delivery.
  • Worked with local municipalities and utilities to expedite permitting and installation of site improvements, including a new traffic signal.
  • Implemented an active leasing program designed to pull tenants from other locations within the greater Austin area; secured new and expanding business and start-ups as tenants. Incorporated a strong in-house effort to supplement local leasing brokers in our leasing strategy.
 
Exit Strategy/ Results:
  • Ensured a diversified tenant base by leasing to several businesses, including an 11,000 sq. ft. lease to a strong regional credit/ anchor tenant, Austin Radiological Association. The strength of the rent roll further enhanced the buildings marketability and overall project value.
  • Both buildings were approximately 70% leased within six months of the completion of Building Two.
  • Leased project to stabilized occupancy in order to market project for sale.
 
 
Quorum Center – Dallas, TX
 
Acquisition Opportunity:
  • Acquired a 64,500 square foot, Class ‘A’ office building with underground parking in a prime location in North Dallas, Texas at a substantial discount to replacement cost.
 
Implementation:
  • Set up and staffed our own local property management and leasing firm, Granisle Management Systems, Inc., to direct a targeted marketing and leasing campaign to increase occupancy as quickly as possible.
  • Used aggressive tenant finish-out allowances to entice tenants to move into the building at high lease rates.       
 
Exit Strategy/ Results:
  • Once stabilized and fully occupied the project was held for eight years to benefit from much higher rental rates and occupancy.
  • Sold the building at substantial profit on a market upswing when more buyers were underwriting stronger rental growth assumptions and lower cap rates.
  • Enhanced leasing at the property to take the project from 25% occupancy to 100% stabilization in 12 months.
  • Achieved above average investment returns.
  • The building was brought to 100% occupancy in approximately 18 months.
 
 
Preston North Financial Center – Dallas, TX
 
 
Acquisition Opportunity:
  • Acquired a 86,500 square foot, Class ‘A’ office building. This building had a large surface parking area with covered car ports. It was situated in a prime located on Preston Road in North Dallas, Texas.
  • Purchased at a substantial discount to replacement cost.
 
Implementation:
  • Set up and staffed our own local property management and leasing firm, Granisle Management Systems, Inc., to direct a targeted marketing and leasing campaign to increase occupancy as quickly as possible.
  • Used aggressive tenant finish-out allowances to entice tenants to move into the building at high lease rates.
 
Exit Strategy/ Results:
  • Once stabilized and fully occupied the project was held for some nine years to benefit from much higher rental rates and occupancy.
  • Sold the building at substantial profit on a market upswing when more buyers were underwriting stronger rental growth assumptions and lower cap rates.
  • Enhanced leasing at the property to take the project from 40% occupancy to 100% stabilization in 18 months.
  • Achieved above average investment returns.
 
 
Concorde on the Creek – Dallas, TX
 

Acquisition Opportunity:

  • Acquired a 73,400 square foot, Class ‘A’ office building. This building had a large surface parking area. It was situated in a prime located in North Dallas, Texas at Hillcrest and the LBJ Freeway.
  • Purchased at a substantial discount to replacement cost.
 
Implementation:
  • Set up and staffed our own local property management and leasing firm, Granisle Management Systems, Inc., to direct a targeted marketing and leasing campaign to increase occupancy as quickly as possible.
  • Used aggressive tenant finish-out allowances to entice tenants to move into the building at high lease rates.       
 
Exit Strategy/ Results:
  • Once stabilized and fully occupied the project was held for some nine years to benefit from much higher rental rates and occupancy.
  • Sold the building at substantial profit on a market upswing when more buyers were underwriting stronger rental growth assumptions and lower cap rates.
  • Enhanced leasing at the property to take the project from 60% occupancy to 100% stabilization in 18 months.
  • Achieved above average investment returns.
 
 
Monterrey Point Apartments – Mesa, Arizona
 
 
Acquisition Opportunity:
  • Acquired a well located 224 unit Class “B” apartment community in an affluent area of Mesa, Arizona.
  • Acquired at a discount to the existing market value and replacement cost.
 
Implementation:
  • Brought in our own professional property management firm, Granisle Management Systems, Inc.
  • Conducted interior and exterior renovations which enhanced the appearance of the property.
 
Exit Strategy/ Results:
  • Once stabilized and fully occupied the project was held for eight years to benefit from much higher rental rates and occupancy.
  • Sold the building at substantial profit on a market upswing when more buyers were underwriting stronger rental growth assumptions and lower cap rates.
  • Ensured overall investment strategies were executed by using in-house property management.
  • Increased income by implementing tighter management controls, thus increasing income and decreasing expenses to deliver significantly higher net operating income and resulting higher valuation.
 
 
The Fairways on the Fazio – Austin, Texas
 
 
Acquisition Opportunity:
  • Acquired an irreplaceable 25 acre “trophy” residential tract of land directly adjacent to the prestigious Barton Creek Country Club & Resort in Austin, Texas
  • The site was bounded by the 1st, 2nd and 7th fairway of the famous Fazio at Barton Creek golf course.
  • To develop the tract and build forty nine luxury homes on the prestigious site.
 
Implementation:
  • Developed the land into forty nine condominium lots and then constructed forty nine individual semi-custom luxury homes on the property.
  • Installed our own on-site sales and marketing team of experienced professionals to handle all the sales of the individual homes to a variety of notable buyers, including a number well known celebrities from the music and business world.
  • Assisted potential buyers with architectural design services for customization of plans and specifications, as well as providing assistance with financing when requested.
 
Exit Strategy/ Results:
  • All the homes were sold in approximately twenty four months yielding a substantial profit for the Project.
  • The Project was the recipient of a number of design awards including the very prestigious “Gold Nugget Award” which is awarded each year as a result of close to 1,000 entries from contestants around the world for various types and sizes of residential designs.
 
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