HOUSTON, TX - Atlanta-headquartered ARA, the largest privately-held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, brokered the sale of the 726-acre West Houston land site on behalf of Houston-based BBVA Compass Bank. ARA Houston’s land brokerage specialists, Tim Dosch and David Marshall, represented the seller, a locally-based global financial institution, in the transaction.
Situated along I-10 in West Houston, this particular site was the third piece of a 1,530-acre tract to have been sold by the ARA Houston-based land team. The other two tracts sold in 2011. According to David Marshall, "We received a ton of interest on this tract and West Houston continues to be one of the top areas that investors are buying up large acreage tracts. This area is in the path of growth, where home sales continued to rise even during the recession – it is the fastest growing area in Houston.”
The deal drew a high number of bids for a tract of this size. The buyer completed the transaction within 45 days from start to finish, closing earlier than expected. Tim Dosch noted, “The buyer was a wealthy foreign national looking to park money in an area that he already has considerable land holdings. He plans to hold the site long-term.”
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, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Ryan Murray at rmurray@ARAusa.com or 713.599.1800.
About ARA
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 has resulted in average annual production volume of $5.4 billion in real estate transactions since 2004. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com