HOUSTON, 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 almost 4,400 acres in only six transactions in the Houston area within the last 12 months. ARA’s Houston-based land team led by Principal, Tim Dosch, and Principal, David Marshall, brokered each of these deals representing various national sellers.
According to David Marshall, “There were very few large acreage land sales during the recession but the increase in these sizable land deals is a sign that the Houston economy is strong and investors believe we will have sustained growth over the next few years.” The Houston area has also seen a rise in average median home prices allowing land owners to charge more for home sites. Yet another sign of continued improvement in the local economy is job growth. The Houston area added 75,000-80,000 jobs in 2011 and are looking to add as many if not more jobs by the end of 2012.
In terms of financing, “large acreage tracts are still being discounted but discounts are getting smaller and smaller, noted Tim Dosch. “While we were able to acquire debt on one of these six land deals, for the most part large land tract purchases still require all cash. Very few banks are lending money for land investment unless someone is extremely well-capitalized.”
The large acreage sites included in these six transactions include:
• 1,446 Acres in West Houston
• 747 Acres in Los Fresnos
• 726 Acres in West Houston
• 644 Acres in Northeast Houston
• 514 Acres in West Houston
• 290 Acres in West Houston
Most all of these tracts are likely to be used for residential development. Therefore, with four of the deals located in West Houston, clearly buyers believe west of town is going to be the highest growth area in the years to come.
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, Yvonne Sarmiento at sarmiento@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