NEWSLETTER
Qtr 3 | 2021 | Vol - I
*Raw picture taken at our Ookalla property by Bill Keeney. Processed by Terrenezt back-office team.
Weather in Austin is slowly moderating, however, the real-estate market in Austin is going strong.
Throughout the greater Austin metro area the dollar volumes of sales have increased and YoY inventories is at historically low levels of 1month.
All our holdings are seeing healthy gains across greater Austin area. Apart from the real estate, Austin is proving to be a magnet for VC capital.
Texas in general and Austin in particular are attracting record levels of VC capital. Out of $4.8B raised in TX this year, a significant chunk of that capital to the tune of $2.6B has made it to Austin.*
As you might have noted in our issue description, we have switched to a quarterly cadence for our newsletter to ensure meaningful and substantial progress updates.
AUGUST 2021 STATISTICS
These statistics are for single-family homes, condos and townhomes, compared year-over-year.
*source ABOR
*source ABOR
Terrenezt… a Growing Portfolio
Since our last newsletter both our portfolio and total asset value have grown tremendously.
Many more are in the final stages of acquisition.
PROJECTS UPDATE
As the adage goes 'You have to strike it when the iron is hot'. Given the market conditions we have accelerated our plans to go to market with a finished product in an expedited manner.
We started this with some of our largest holdings.
TX-Austin-Oakalla-N2657-1000Acres
There are several activities currently in progress for this property.
- The pace of landscaping to clear unwanted trees on this property has quickened. Our landscaping expert contractor has added one more team to complete the landscaping faster. As a result tree clearing is happening at a rapid pace in both phases. Phase1 has about 400Acres cleared.
Phase2 has about 200+ acres cleared. Rest is being cleared in an accelerated manner so road laying can commence.
- Water study has commenced and is expected to be completed in about 3 months.
- Preliminary plat map has been completed by our engineering team. As soon as water study is completed approvals for the plat map will be sought from the county.
- Contractor selection for laying roads is in progress.
The following pictures illustrate the rapid progress made so far. Also included is the preliminary plat map.
TX-Austin-Taylor-FM973-267.808Acres
As indicated in our last newsletter we have worked to finalize the planned improvements for this property. Work crews have already completed the demolition of some undesirable structures to make room for a new lounge area, tack room, etc.
An artist rendering of planned improvements is given below.
Leander-Commercial-22Acres
We have made considerable progress on this property. Our engineering team has prepared the final conceptual plat and have completed initial discussions with the county officials.
Below is the artist rendering of the vision for this property. Be sure to look for more details in our future newsletters.
Farm to Market Road 973 Corridor Properties Update
Apart from our equestrian property we have several properties in the FM973 corridor including:
o TX-Austin-Manor-CameronRoad-15Acres
o TX-Austin-Manor-17618-N-FM973-89.263Acres
o TX-Austin-Manor-FM973-44Acres
All our properties have seen a significant gains based on the recent closings.
The reasons for the uptick are many fold.
o Samsung has finalized Taylor, TX as their next site* for a $17B new chip plant
o Several major builders are in various stages of bringing large communities in Pflugerville, Taylor, Manor vicinity.
o Lennar has announced a new master planned community very close to all our FM973 properties on Fuchs Grove Road.
o KB Homes is offering new homes in their new 'East Village' neighborhood
o Many more
*Sources:
OTHER PROPERTIES PROGRESS
We are working diligently and have initiated steps such as preparing plat maps, meetings with county officials to make most of our properties ready for market.
As indicated in our earlier newsletters, while this is a long 18 month process, we are making progress on most of our properties. Be sure to look for more details in our future newsletters.
INVESTOR EVENTS
We always make a conscientious effort to keep our investors informed in a transparent manner. As you might be aware we had several investor events in September to show progress made so far at our properties.
These events give an opportunity for the investors to interact with Terrenezt team in-person.
Oakalla Investor Event
Equestrian Investor Event
This was a well-attended event with a good representation from the investors in this property. Investors were able to tour the property and see the progress made first-hand.
Below are some pictures from the event.
New Jersey Event
This was our 3rd event in the last quarter and was also a very well attended event.
Here are some pictures from this event.
Coming soon:
We are pleased to announce that our Belton, TX property is currently being offered to investors. We are in the final stages of preparing our offering for our Kempner, TX property. Details will be sent out soon.
In addition, there are several properties all across greater Austin and Tennessee that are in due diligence.
Let us know if you are interested in any of these current and upcoming offerings.
Austin Trivia
Did you know that Austin is home to the largest bat colony in the United States?
These bats emerge every day and put on a spectacular show.
During peak season
there are an estimated 1.5M free tailed bats that migrate seasonally from Mexico.
You can see these bats emerge near Congress Ave bridge.
Photo source: CC licensed google image
510 Franklin Avenue, Suite 6
Nutley, NJ, 07110
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