CAPELLA   AUSTIN  NEWSLETTER

July 10, 2022

Austin Tops The List In Texas For Share Of Million-Dollar Homes, Says Study

Austin Culture Map – 7/6/2022

It turns out Austin has the highest share of $1 million-plus homes among Texas’ major metros. A new study from personal finance platform LendingTree shows 3.51 percent of owner-occupied homes in the Austin area are valued at $1 million or more.

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Private Equity Powerhouse TA Associates Picks Austin For Third US Office

ABJ – 7/7/2022

Private equity heavyweight TA Associates Management LP plans to open an Austin office, the latest example of a deep-pocketed financial firm staking out a piece of the Texas capital. The office will be in the 515 Congress Ave. high-rise.

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Geyser Group to Build East Austin Multifamily Project

Connect Media  – 7/7/2022

Galesi Group Capitalizing On Growth Of Northeast Austin With Apartment, Commercial Developments

ABJ – 7/5//2022

A New York-based real estate firm is gearing up to develop hundreds of acres in Northeast Austin on land it has owned for nearly 30 years. It represents the continued march of commercial development into a quadrant of the city primed for growth.

Galesi Realty Group LLC has plans for hundreds of apartments in the Harris Branch community off US Hwy 290, plus new office and industrial buildings. It has already completed one multifamily complex and has another underway, Hillside on Parmer Lane.

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Austin Startup Riders Share Finds A Niche With Motorcycle Rental Marketplace

Austin American Statesman – 7/8/2022

Riders Share operates an online platform that lets riders rent motorcycles from owners. Just as demand for rental cars, RVs and campers has skyrocketed, Riders Share has seen a surge in demand for its cycles. Today, more than 2,000 motorcycle owners across the U.S. are registered on the platform and it has 200,000 members signed on to rent and ride.

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Austin VC Firm Silverton Partners Stockpiles $248M To Invest In Startups

ABJ – 7/6/2022

One of Austin’s longest-tenured venture capital firms has raised hundreds of millions of dollars to invest mostly in Texas startups.  Silverton Partners LP announced it raised $248 million across two funds: one dedicated to making early-stage investments in small, technology-oriented businesses and another to pump additional money into existing portfolio companies.

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Los Angeles-Based Tauro Capital Advisors Opens Office In Dallas, Eyes Austin Expansion

ABJ – 7/6/2022

Los Angeles-based Tauro Capital Advisors Inc. announced the opening of its first office in Texas in Dallas. The company has plans to open its second Texas office in Austin by the end of this year.

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Courtyard By Marriott Coming To Dripping Springs This Fall

Community Impact – 7/5/2022

A Courtyard by Marriott hotel will open in September at 1002 Rob Shelton Blvd., in Dripping Springs.  It will feature a restaurant, free Wi-Fi, a fitness center, an indoor pool and a whirlpool.

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DHL Express Brings Mobile Shipping Store To South Austin

ABJ – 7/6/2022

Facing an increase in demand for its international shipping services, German logistics company DHL Express has opened its second mobile pop-up store in Austin, located at 5500-5510 S. I-35.  The 2,200-cubic-feet DHL ServicePoint offers a shipping option aimed at supporting Austin’s growing population and businesses.

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Popular Chicken Salad Chain To Roost In Austin Area With 8 Locations

Austin Culture Map – 6/30/2022

Chicken Salad Chick, a fast-growing, Southern-inspired restaurant chain, has hatched plans for expansion into the Austin metro area.  Franchisees Austin Young and Sara Ingram are eyeing eight locations over the next three years. “Austin is one of the fastest-growing cities in the country, and we’re very excited to introduce the brand to such a booming market,” Young said.

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Funding Wrap: Moonshots Capital Aims For $100M Third Fund; Spot Insurance Adds To Round

ABJ – 7/5/2022

• Austin-based venture capital firm Moonshots Capital LLC plans to raise $100 million for its third fund.
• Cleartrace Technologies Inc., an Austin startup that helps renewable energy buyers track hourly energy and carbon use data, raised $20 million in a funding round.
• Austin startup Spot Insurance Inc. announced it added $8 million in debut funding to a $25 million funding round.
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Development 2000 Has Industrial Park In The Works Near Austin Airport

ABJ – 7/6/2022

Thirteen new warehouses are coming to Southeast Austin, where developers aim to meet the needs of the region’s economic growth.

The industrial buildings will range in size from 8,000 to 20,000 square feet at a 26-acre site off Burleson Road, just west of U.S. Route 183 and Austin-Bergstrom International Airport. Austin-based real estate firm Development 2000 Inc. is behind the project, dubbed the Omni Business Park. Plans for the first phase call for 174,000 square feet of indoor space, which is expected to be ready for tenants by the second quarter of 2023.

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Plans For Tower At Brazos Lofts Site Come Into Focus

ABJ – 7/7//2022

Cielo Property Group LLC is getting closer to going vertical on a downtown site it purchased a couple of years ago.  The new tower could sprout at the site of the 40-unit Brazos Lofts condominiums at 201 E. Fifth St., said Tyler Buckler, director of development and investments at Austin-based Cielo.

Cielo filed a site plan for the project, called Block 41 N, indicating it would be a hotel and residential tower.  Buckler confirmed Cielo envisions apartments and a hotel in the high-rise, along with a 50,000-sq. ft. health club.

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Samsung Starts Work On 1,200-Acre Site In Taylor

ABJ – 7/5/2022

Construction work is underway on one of the Austin area’s largest projects: Samsung Electronic Co. Ltd.’s $17 billion next-generation chipmaking facility in Taylor.  The facility is rising near the former intersection of County Roads 401 and 404 and is expected to be 6 million sq. ft. when completed.  The company previously said it hoped to complete it in 2024.

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Nation’s Largest Mall Owner Helps World’s Largest Coworking Company Expand

CoStar  – 7/5/2022

The world’s largest coworking company, British holding company IWG, has partnered with Indianapolis-based Simon Property Group, the biggest U.S. mall landlord, to put flexible workspaces in shopping centers across America.  The partnership is set to start with a Spaces location at The Domain in Austin, Texas, a mixed-use shopping center, that’s expected to open in the first quarter of 2023.

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Turner Impact Capital Sells 420-Unit Austin Asset

Multi-Housing News – 7/7/2022

Greysteel Arranges Acquisition Financing for 184-Unit Multifamily Portfolio in Austin

REBusiness  – 6/30/2022

Greysteel has arranged an undisclosed amount of acquisition financing for a portfolio of four multifamily properties totaling 184 units in Austin. The properties — Calgary Square, Reinli Arms, Capital Villa and First Oak Place — also include 14 retail spaces. The undisclosed borrower plans to implement a value-add program across the portfolio.

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Houston Developer Holds Ribbon-Cutting Ceremony At Rent-To-Own Community In Georgetown

Community Impact – 7/7/2022

The Wan Bridge Group, a Houston-based development company, held a ribbon-cutting ceremony for its first rent-to-own community in Georgetown on June 30.

Georgetown Heights—located at 468 Northwood Drive, Georgetown—features 48 three- to four-bedroom, two-story duplexes ranging from 1,400-2,100 sq. ft. With Georgetown Heights being the developer’s first Central Texas project, CEO Ting Qiao said there are seven or eight potential projects in the Austin pipeline.

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