Katy, TX— Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of 7.23 acres on Katy Gap Road in Katy, TX and over 800 acres in Texas City, TX.
ARA’s Houston-based land team made up of Principals, Tim Dosch and David Marshall, Transaction Manager, Clark Dalton, and, Transaction Manager, Tom Dosch, represented an undisclosed seller in the Texas City deal which sold to an undisclosed international buyer. The ARA team also represented the buyer, Houston-based PinPoint Commercial, a full-service national real estate development partnership focusing on industrial, medical, retail and land assets,in the purchase of the Katy Gap Road transaction.
The ARA Land Team assisted Pinpoint Commercial in finding an ideal location for an assisted living and memory care facility by scouring the Katy market for sites. “Out of the 20 sites we found for PinPoint in Katy, the Katy Gap Road site provided everything PinPoint needed for future development,” says Clark Dalton. “Katy continues to be one of the fasting growing submarkets in Houston and the demographics lend themselves well for seniors housing development,” noted David Marshall.
Located at the intersection of Katy Gap Road and Roesner Road, PinPoint Commercial intends to develop a two story, 104-bed assisted living and memory care community called, Legacy at Falcon Point, on the Katy site. “This project is the result of a two year process,” said Charles Turner, Principal with PinPoint Commercial. “We studied over 300 submarkets in every state in the southeastern US. After months of exhaustive travel and extensive research, we believe that the Katy area is one of the most underserved markets that we have found to date. We can’t wait to get started.”
Legacy at Falcon Point is strategically located less than one mile from Memorial Hermann Katy Hospital and St. Luke’s Hospital. Below is a rendering for the building, scheduled to open in 2014.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Yvonne Sarmiento, at sarmiento@ARAusa.com or 713.599.1800.
About ARA Houston Land Services
Founded in 2007, the ARA Houston Land Team leads the Houston market with unparalleled market expertise. The team includes five advisors—Tim Dosch, David Marshall, Tom Dosch, Clark Dalton, and Matthew Rotan—who focus on representing both buyers and sellers for all land uses throughout the Houston market. Tim Dosch was the top producer for land transactions in 2011, winning the Houston Business Journal MVP in Real Estate for $110 million in production. Tim Dosch and David Marshall were both nominated for Houston Business Journal Heavy Hitters for 2012. Matthew Rotan, ARA Principal, brings over 24 years of commercial real estate experience to the team.
The ARA Land Team has been involved in over $413 million in production volume since 2007. Combined, the Land Team Principals provide over 40 years of experience and their high profile clients include Trammell Crow, Hines, BBVA Compass, Johnson Development, David Weekley Homes, and the YMCA.
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions.ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visitwww.arausa.com.