Former Situs Founders Form New Commercial Real Estate Investment Firm
BHW's principals control several assets in the Houston area, including:
- Stafford Promenade: 23 acres of commercial land that wraps the intersection of Highway 90 (S. Main St) and FM 1992 (Murphy Road) in Stafford, TX. BHW's principals originally sourced and purchased a non-performing loan collateralized by 52 acres of land that was embroiled in a hostile bankruptcy. The borrower was foreclosed and the team worked diligently with the local municipality to change the existing zoning of a portion of the property to allow for residential development. 28 acres were then sold to a homebuilder that has commenced construction. In addition to marketing the remaining land for sale, BHW is now evaluating the viability of constructing a retail center on Highway 90.
- Timmons Place: Along with a joint venture partner, BHW recently purchased and controls a boutique retail and office property in the highly-valued Inner Loop / River Oaks submarket. BHW is managing the 49,000- square-foot property that consists of two buildings. While this is the first multi-tenant acquisition that BHW has managed, Martin Bronstein previously oversaw Situs' management of approximately 500,000 square feet of multi-tenant retail space in the greater Houston area.
- 4665 Southwest Freeway: BHW's principals own and manage the Situs headquarters office building on the Southwest Freeway, just inside Loop 610. The group is currently evaluating its options for the property, including a potential redevelopment of the site.
- Dairy Ashford / Westpark: BHW's principals control two parcels of land totaling approximately four acres. The group originally acquired 18 acres of land and sold ten parcels of land totaling 14 acres to a mix of national retailers and local users.
For more information, visit www.bhwre.com .
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