Transwestern to Assist in Developing Masterplan for 1990 Old Spanish Trail
(JUNE 13, 2019 – HOUSTON) – Transwestern Commercial Services (TCS) today announces it has been retained to provide advisory services for Americus OST LCC for a prospective new mixed-use medical development at 1990 Old Spanish Trail in Houston. Americus OST purchased the property from long-time owners Hakeem Olajuwon and John Ballis. TCS Vice President Robby Winston is providing advisory services for the property. John Ballis, Jr. represented both buyer and seller in this transaction.
“The new owner is looking to create a mixed-use development that would complement the highly respected healthcare, educational and research institutions that are adjacent to the site,” said Winston. “As one of the last undeveloped parcels in the Texas Medical Center, this site presents the unique opportunity to bring additional supportive capacity to this rapidly growing innovation district. Our property will enhance those larger master plans taking shape.”
The University of Texas South Campus Research Facilities, the Baylor/CommonSpirit Health™ campus and TMC3 master-planned development have major expansion plans in the immediate vicinity of the site. Transwestern Development Co. has been retained as the development manager for the transformative TMC3 project.
“We are very excited about the opportunity to work with The Texas Medical Center and member organizations in developing this property in keeping with the master plan of the TMC3,” said Andrew Schatte, principal of Americus OST.
The 1990 Old Spanish Trail property is situated within a Certified Opportunity Zone, which is designed to spur economic development by providing tax benefits to investors.
The TCS Houston healthcare real estate team has executed 522 healthcare transactions during the last 24 months and more than 2,000 transactions during the past five years. This project brings the team’s healthcare leasing and management portfolio to 69 properties totaling more than 5 million square feet on behalf of some of the largest healthcare institutions in the country.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
# # #
Media Relations Specialist
National Marketing and Communications
1900 West Loop South, Suite 1300
Houston, TX 77027
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE