Hampton Inn breathes life into a foreclosed project

Category: Commercial, Travis County No Comment January 20, 2012

Austin will see the rise of a $24.5 million Hampton Inn & Suites building on Lavaca Street. The project comes to breathe life into an unfinished building that caused traffic problem on the street. Construction has already started on the hotel project, although the new owner just recently purchase the foreclosed project from Texas Capital [...]

Austin apartment rents twice the national growth rate

Category: Commercial, Headlines, Real Estate Market Update 1 Comment September 11, 2011

While the mortgage market struggles to survive Austin apartment rents went up by 10.1% or almost twice the national growth (5.36%). This means an average $911 paid perm unit per month, a recent report from Axiometrics Inc. shows. The same report highlights that Austin apartment rentals cost an additional $66 per month compared to Dallas [...]

Temple-Inland finally sold for $4.3 billion

Category: Commercial, Headlines, Real Estate Market Update, Travis County 1 Comment September 10, 2011

Two weeks after the Austin-based Temple-Inland was sued for its role in the failure of Guaranty Bank from Austin, the corrugated packaging paper maker was bought for $4.3 billion. When the lawsuit occurred onlookers got worried whether it would kill the potential buyers’ interest, but in the end, International Paper Co. paid $32 per share [...]