Austin

The goal with the design studio is a retail-like experience from the model complex and new home gallery setting to the design studio, a trend which is changing the way people shop for homes.

A recently opened community consists of new homesites that back up to a greenbelt, offering desirable topography in Headwaters while preserving the hilltops and natural contours.

Jason Berkowitz and Diana Zuniga are developing 701 Rio under B&Z Development, a company formed in 2007, with a focus on acquisitions and repositions of core commercial real estate properties in Central Texas.

As young professionals continue a mass exodus from higher cost of living areas, employment opportunities coupled with the absence of state income tax make Texas and Austin the epicenter of this migration.

When it comes to companies moving to the Southwest Austin area, there is a healthy mix of technology, creative and professional firms, and this development fulfills the needs of a full building user or full-floor tenants looking for larger floorplates.

While Castle Lanterra believes in Austin for the long term, it chose to take advantage of the significant NOI increases in the hold period and current investor demand to exit at favorable prices relative to its purchase basis.

While the Bay Area led the nation in office-using services job growth at 5.2% in 2019, it will likely rank second in 2020 at 2.5%, edged out slightly by Austin's 2.6% growth, according to a CBRE report.

The $65 million all-cash purchase marks the first multi-property hotel deal the real estate investment firm has made in the hospitality arena, and is the debut acquisition originated by its inaugural $350 million hospitality fund.