DALLAS-Viking Capital Group Inc. of Dallas has taken purchase talks to the next level, signing a memorandum of understanding to acquire Liaise Systems II Inc., based in Walnut Creek, CA., in a stock-for-stock exchange. It's anticipated the deal will close in the fourth quarter although a date has not been set.
AUSTIN-Benchmark Land Development has the fiscal go-ahead for an office and retail project in the city's southern corridor. The developer has secured $2.9 million for the Legend Oaks Plaza, which will deliver about 27,000 sf to the market.
AUSTIN-Another headquarters shift occurs in Austin, this time it's a residential and commercial developer who's picking up stakes. The real estate business is moving into 10,000 sf in a structure it owns at Spicewood Springs Rd.
HOUSTON-Despite a surge in residential sales in the region, American Homestar Corp. has incurred a $16.4 million annual loss in its manufactured housing business. Shareholders are losing 89 cents per share in the business drop.
AUSTIN-A printing company CEO moves his operation out of town, citing overcrowded conditions and high taxes as cause for the relocation. The business will set up shop in a 28,000-sf warehouse in Buda.
FT. WORTH-Roger Staubach's Dallas-based real estate business has shut out its competition, scoring a long-term deal to manage a high-volume portfolio of Ft. Worth's Burlington Northern and Santa Fe Railway Co. The real estate management package takes effect at the start of 2001.
DALLAS-Two Dallas-based operations - Homegate Hotels and Ameri-First Financial Group Inc. - will jointly acquire 100 hotels of varying brands in 17 states by year's end in a dual-pronged strategy that pumps hard assets into the financial service and cements the hotel operator's presence nationwide. About three hotels, with an average of 250 rooms each, are being bought each week, says Ameri-First's vice president.
AUSTIN-The city's high-rolling economy is fueling good times for the hospitality industry. Occupancy, daily room rates and absorption are on the rise, but the key is a 19.4% jump in the revenue per available room, a leading indicator of a successful market.
DALLAS-Capital Senior Living Corp. finalizes a merger with ILM Senior Living Inc. Capital pays nearly $97.6 million for eight ILM properties, but gets 75% interest in Villa Santa Barbara.
HOUSTON-A veteran shopping center developer is progressing on a face-lift for the city's oldest mall, picking up extra acreage and luring big box retailers to the site. When completed next year, the project will deliver more than 650,000 sf.
