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News – San Antonio

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​COLLEGE STATION – Production of manufactured homes in Texas increased in December, according to the latest Texas Manufactured Housing Survey (TMHS). Manufacturers unanimously pointed toward acceleration in the first half of 2021 as they attempt to whittle down backlogs and as supply-chain disruptions subside.

Despite the boost in production, general business activity was flat but should improve after the holiday season. The volume of new orders and sales recovered from dips in October and November. Manufacturers continued to invest in physical capital but expect this to level off in 2021.

"Most plants in Texas close for the week of Christmas, making December a low month for total number of homes shipped," according to Rob Ripperda, vice president of operations for the Texas Manufactured Housing Association (TMHA). "But manufacturers’ daily floor production is increasing, and they continue shipping more multi-section homes with larger amounts of square footage."

On the employment front, payrolls expanded despite increased labor costs, but employee workweeks showed little change. The industry noted minimal movement in the labor supply and does not anticipate significant improvements in the near future.

In addition to rising labor costs, prices paid for raw materials surged after a reprieve in November. Prices received for finished homes moved similarly. Upstream inflationary pressure, however, may taper in 2021 amid recent lumber tariff reductions.

“With the continuing tightness in affordable site-built homes, the manufactured housing industry has reason to be upbeat about sales in 2021,” said Dr. Harold Hunt, research economist at the Texas Real Estate Research Center.

Respondents’ uncertainty regarding their company outlook calmed in December, but heightened levels are on the horizon. Despite this concern, Texas’ manufactured housing industry remained optimistic about overall activity and growth.

The Center and the TMHA have partnered to produce a monthly survey of business conditions and expectations surrounding the manufactured housing industry.

Texas logoThe Real Estate Center has a wealth of economic information online for free.

​​SAN ANTONIO – Rosewood Property Company has completed the first phase of the Tobin Estate Apartments, a 286-unit multifamily community at 3310 Oak​well Ct. 

The three-phase property will have one- to three- bedroom units. Rents will range from $1,300 to $2,505 per month. 

Amenities will include a pool, dog park, fitness center, clubhouse, business center, and rooftop terrace.​

texaslogo.pngThe Texas Real Estate Research Center has more news like this online for free:

​​BROOKSHIRE – Miami-based Exan Capital has acquired a one million-sf Amazon fulfillment center on 84 acres at 31555 SH 90. 

Approximately 1,600 work in the facility, which has 36-ft clear heights, LED lig​hting, ESFR fire systems, 100 dock-high doors, deep truck court, two drive-in doors, ample trailer parking spaces, and vehicle parking.

The building was developed in 2018 by Indianapolis-based Duke Realty. 

JLL Capital Markets worked on behalf of the seller, a publicly traded REIT. JLL also placed a five-year, fixed-rate acquisition​ loan with New York Life Insurance Co. ​​​​

Texas logoGet more Houston-area industrial news on the Texas Real Estate Research Center's website:

​Source: Realty News Report

​​FORT WORTH – A two-property, 408-unit apartment asset has been sold to an out-of-state investment group.              

The Falls totals 256 units, while Oak Village has 152 apartments. They were built in 1976 and 1980, respectively. 

Situated on 22 acres at 9001 S. Normandale St., the 46-building asset has two swimming pools, soccer fields, playgrounds, dog parks, grilling areas, and onsite laundry facilities. 

Marcus & Millichap represented the seller, Florida-based Greenwater Investments,​ and procured the buyer.

Texas logoThe Texas Real Estate Research Center​​​​ has more multifamily news online for free:

​Source: Marcus & Millichap

​​IRVING – Cawley Partners has teamed with Balfour Pacific Capital to acquire Westpoint I, a 150,000-sf office building at 1255 Corporate Dr. 

Plans are in the works to add a grab-and-go food service and renovate the restrooms and common areas on the first and second floors. 

Westpoint I is being leased by Cawley Partners. JLL represented the seller, Highbrook Investors.

Texas logoThe Texas Real Estate Research​ Center has more on DFW real estate news:

Source: Connect Media