By Michael Ross, Vice President, Asset Management & Entitlements
What better way to close a solid year than to announce the closing of two more properties.
In November, we announced the sale of a 10-acre land tract in Rosenberg, Texas, just south of Houston. The property, located at the northeast corner of FM 2218 and Town Center Boulevard, was sold to commercial real estate company, Gamal Enterprises, to be used for retail development. The population growth in Fort Bend County and the property’s close proximity to Brazos Town Center made the property especially attractive to developers.
Additionally, we announced the sale of the Ranches of San Geronimo in Helotes, Texas, a 1,590-acre tract of land. This is the largest asset our firm has currently sold in the Alamo City. The esteemed school district and scenic hill country appeal puts high demand on this northwest San Antonio location. The property was sold to Southerland Communities, which plans to change the name to Canyon Creek Preserve and develop 25-acre+ ranches for residential use.
We look forward to announcing more closings in early 2017!