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PARTNERS LEAD THE WAY FOR CONTINUED GROWTH OF DOWNTOWN SAN ANTONIO
City of San Antonio and Bexar County Welcome Big Tex to Blue Star Community
SAN ANTONIO (May 30, 2014) – Bexar County Judge Nelson Wolff and representatives from the City of San Antonio, the NRP Group LLC and Lifshutz Companies LP, gathered to announce the groundbreaking of downtown’s newest mixed-use development, Big Tex. As the newest addition to San Antonio’s growing portfolio of urban housing, Big Tex presents unique opportunities in revitalizing the city’s core.
“Residential investment in our city center is vital to attracting more businesses, economic advancement and continued urban renewal,” said San Antonio Mayor Julián Castro.
Located within the Blue Star Arts Complex, the 336-unit apartment community will offer a variety of studio one, two and three-bedroom floor plans, 7.5 acres of river front property and 6,000 square feet of ground floor retail and parking. This unique blend of residential and public space provides a fresh take on urban living, along with convenient access to Southtown and the King William Historic District.
“Big Tex is not only an opportunity for more people to make the Blue Star community their home, but for new, local businesses to take root as well,” said Dan Markson, Sr. Vice President of Development at the NRP Group LLC.
Big Tex will enhance the urban experience by providing new outlets for commercial and residential growth. Formerly the site of Big Tex Grain Company, the modern, upscale multifamily development will join a list of properties that revive older areas of downtown and draw in more residents.
“With Big Tex, we’re converting older, unused space into a new thriving community,” said James Lifshutz, CEO of Lifshutz Companies LP. “This is the type of rebuilding and investment we hope to see throughout all of San Antonio.”
The City of San Antonio will provide over $5 million in tax incentives for the area’s growth and improvement. To help foster the expansion of Mission Reach, Bexar County will also provide tax incentives. Big Tex is expected to be completed by Spring 2016.
About The NRP Group LLC
The NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every development NRP Group works on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB’s 2009, and 2012 Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008, 2009 and 2011 by Affordable Housing Finance. The NRP Group LLC has offices in San Antonio, Texas; Cleveland, Ohio; Phoenix, Arizona; Raleigh, North Carolina, devoting significant resources to providing high-quality, affordable housing to residents. For more information visit www.nrpgroup.com.
About The Lifshutz Companies LP
The Lifshutz Companies is a family-owned real estate and investment group engaged, since 1950, in mortgage lending, land development, and in the development, ownership and management of a wide range of product types in Texas. The companies are run by James Lifshutz who followed his father and grandfather, Bernard and Sam, respectively – and who have played, collectively, a leading role in the redevelopment and revitalization of San Antonio’s center city for the past 50 years.
A Model City for all America: San Antonio
San Antonio is a model city for the new face of America—a diverse, progressiveand globally competitive city with a solid vision for national and international economic development. In 2012, San Antonio was named an All--America City by the National Civic League. The City of San Antonio maintains a strong financial position with a “AAA” general obligation bond rating from all three major rating agencies. The Milken Institute has ranked San Antonio No. 1 on its Best--Performing Cities list. As the seventh--largest city in the United States, San Antonio is experiencingsolid economic growth in 21st century industries such as bioscienceand healthcare. Biotech companies and healthcare systems in San Antonio contribute billions to the local economy. The Aerospace industry remains a dominant economic strength in San Antonio with the presence of several aviation and aerospace corporations, includingthe military. The military has had a significant relationship with San Antonio for more than 200 years and is home to several military commands. The city is also a cybersecurity hub; nationally recognized as a leader in the field of information security. San Antonio is positioning itself to be at the forefront of the New Energy Economy in the United States, committed to investing and creating employment opportunities in green industries. The travel industry also remains a consistent growing economy for the city, as millions of people visit San Antonio on a yearly basis. For more information, visit www.sanantonio.gov.
FOR IMMEDIATE RELEASE Contact: Laura Lopez
PRESS RELEASE (210) 264-5430
The NRP Group LLC Announces Sale of 288-Unit Luxury Apartment Community in Affluent Cresta Bella Neighborhood
SAN ANTONIO (May 6, 2014) – The NRP Group LLC has announced the sale of Belleza at Cresta Bella Apartments, a 288-unit upscale community nestled in the picturesque hill country of San Antonio’s desirable Northside.
Inland, an esteemed Illinois-based Real Estate Investment Trust (REIT), purchased Belleza for an undisclosed price. CBRE brokered the sale with ninety-eight percent of the property’s units leased.
Built in 2013 by NRP, Belleza’s contemporary design, resort-style amenities and stunning panoramic views place it among the most desirable communities in Texas. The Class A multifamily development features unmatched luxuries, including a high-tech business center, expansive fitness gym with yoga room, two dog parks, an infinity pool with sweeping hill country views and a second, larger pool with cabanas and a grilling area. Apartment features include quartz counters, stainless appliances, tile backsplash lighting, attached parking and more.
“Inland is the model for best in class real estate. We’re confident their team will provide an exceptional experience for Belleza’s residents and its surrounding community,” commented Seth Mendelsohn, Vice President of Investment & Asset Management for NRP. “In turn, Belleza will greatly benefit Inland as a trophy asset with awe inspiring quality and beauty.”
Positioned along the west side of Interstate Highway 10 at Camp Bullis Road, Belleza boasts excellent proximity to San Antonio’s most popular shopping, dining and recreational activities, with the Shops at La Cantera, Six Flags Fiesta Texas and the Rim only minutes away. The strength of the market holds great opportunity for the long-term rent growth at Belleza.
To schedule an interview with an NRP executive regarding the sale or for more information about NRP, please contact Laura Lopez at firstname.lastname@example.org or (210) 264-5430.
PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Laura Lopez (210) 264-5430 email@example.com
The NRP Group LLC Announces Sale of 300-Unit Multifamily Development in Thriving Brooks City-Base Area
SAN ANTONIO (May 6, 2014) – The NRP Group LLC has announced the sale of a premier multifamily development, The Landings at Brooks City-Base. Developed by NRP in 2013 the stunning 300-unit apartment community boasts a desirable location near downtown in San Antonio’s rapidly growing Southside.
Pensam Capital, a distinguished Miami, Florida-based firm with considerable San Antonio history and knowledge, purchased The Landings for an undisclosed price. CBRE brokered the sale with ninety-eight percent of the property’s units leased.
Located in the dynamic and historical Brooks City-Base, The Landings has served as a catalyst for contemporary living in the Southside. In addition to ease of transportation, the development provides a 4,166 square foot hangar-style community center, wireless lounge, resort-style pool with scenic views and close proximity to name brand shopping, excellent dining and state of the art medical facilities. Apartment features include granite counters, stainless appliances and direct access parking.
“By attracting more residents to San Antonio’s Southside, The Landings has greatly contributed to the recent spike in development at Brooks City-Base,” said Seth Mendelsohn, Vice President of Investment & Asset Management for NRP. “The Landings represents a historic transition for this landmark location. The quality of service Pensam provides will further this growth and align favorably with The Landings community.”
The Landings is a component of a larger mixed-use development planned at Brooks City-Base, which includes public parks, retail, medical and office space development. Representing the most significant market-rate residential investment in San Antonio’s Southside, The Landings is a direct product of Brooks Development Authority and NRP’s vision for the area’s growth and renewal.
To schedule an interview with an NRP executive regarding the sale or for more information on NRP, please contact Laura Lopez at firstname.lastname@example.org or (210) 254-9160.
About The NRP Group LLCThe NRP Group is a full-service developer, general contractor, and property manager providing a broad range of services. From start to finish, every development NRP Group works on is carefully contemplated and executed to maximize investment return, cost efficiency, productivity and satisfaction. The NRP Group has been recognized as NAHB’s 2009, and 2012 Multifamily Development Firm of the Year and has been ranked number one in the Top 50 Affordable Housing Developers for 2007, 2008, 2009 and 2011 by Affordable Housing Finance. The NRP Group LLC has offices in San Antonio, Texas; Cleveland, Ohio; Phoenix, Arizona; Raleigh, North Carolina, devoting significant resources to providing high-quality, affordable housing to residents. For more information visit www.nrpgroup.com.
PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Laura Lopez (210) 254-9160 email@example.com
Preleasing begins for NRP Group’s second affordable multifamily housing in San Marcos
Sienna Pointe Apartments adds a fine addition to the growing portfolio
San Marcos, TX (February 4, 2013) – Preleasing has officially begun for Sienna Pointe, The NRP Group LLC’s second multifamily development in Hays County. Located at 2913 Hunter Road, this highly anticipated, mixed-use residence features several family-friendly amenities and top quality living at an affordable price.
Sienna Pointe is an accomplishment of the close partnership between the Bank of America Community Development Corporation, Bank of America and NRP Group LLC, and represents the most significant affordable residential investment received by Hays County in years. Between its two components, Sienna Pointe has a total of 228 units with an expansive selection of 1, 2, 3 and 4-bedroom layouts. Each of these spacious floor plans come equipped with an array of modern amenities, including 9’ceilings, window treatments, high quality kitchen and laundry appliances, covered entry ways and more. Sienna Pointe also provides several community features, such as a picnic area, playground and swimming pool, to promote family-friendly activity for its residents.
“Sienna Pointe caters to the needs of residents who are mindful of their budget and quality of living, making it a vibrant addition to the growing portfolio of affordable multifamily housing in San Marcos," said Dan Markson, Senior Vice President of The NRP Group, LLC.
Among its many amenities and valuable resources, Sienna Pointe’s prime location certainly warrants a mention. The development boasts a desirable proximity to downtown San Marcos and Interstate-35, providing residents with convenient access to several dining options and shopping centers, such as the San Marcos Premium Outlet Mall, JC Penney and Target. Sienna Pointe is also close to the Central Texas Medical Center and a number of public schools assigned to the San Marcos Independent School District, in addition to being only a short, 35 mile drive from downtown Austin. These combined factors make the area rich for outreach activities targeting the Low-Income Housing Tax Credit (LIHTC) market.
Sienna Pointe is a beacon of the transformative growth occurring in San Marcos and supports community development by drawing new residents to the area. Between its innovative design, high-end amenities and prime location, Sienna Pointe not only meets the demand for quality living in Hays County, but significantly impacts the market-rate housing portfolio with its affordability.
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