hindesky Posted June 18, 2021 Share Posted June 18, 2021 So the parking is for the HMNS employees only. 7 Quote Link to comment Share on other sites More sharing options...
hindesky Posted August 17, 2021 Share Posted August 17, 2021 (edited) Not sure how this judgement will affect this project but it certainly doesn't help. Houston property management firm hit with $62 million judgment Natalie Postgate The Texas Lawbook Aug. 17, 2021Updated: Aug. 17, 2021 12:21 p.m. A federal judge in Sherman on Thursday awarded Plano-based property management software company ResMan $62.5 million and permanently enjoined ResMan’s courtroom opponents, Houston-based Karya Property Management and Expedien, from accessing and using ResMan’s confidential information. The final judgment follows a jury trial this spring that found Karya and Expedien improperly accessed ResMan’s confidential software to develop a rival product. The five-woman, three-man jury awarded ResMan $152 million. U.S. District Judge Amos Mazzant’s $62.5 million award reflects what is allowed under the law. The plaintiff is entitled to attorneys’ fees, and on Thursday ResMan’s lawyers asked the court to award $14.8 million in attorneys’ fees and other costs. “ResMan is very pleased with the final judgment and permanent injunction,” Maria Wyckoff Boyce, a Hogan Lovells partner and ResMan’s lead attorney, said in a statement. In a statement, Swapnil Agarwal, chief executive of Karya Property Management and its sister company, Nitya Capital, said only that plans at the companies would not be impacted by the judgment. “Nitya is in the process of closing deals worth $650 million in the next 45 days,” he said, adding that the company is expanding in Orlando, Fla., with the purchase of 1,600 apartment units and in Dallas with the purchase of 2,500 units. R.A. Schuetz contributed to this report. A longer version of this story is available at TexasLawbook.net. Edited August 17, 2021 by hindesky 4 Quote Link to comment Share on other sites More sharing options...
Popular Post Highrise Tower Posted October 2, 2021 Popular Post Share Posted October 2, 2021 Building permits issued. Game on!! 18 2 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted October 4, 2021 Popular Post Share Posted October 4, 2021 17 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted October 7, 2021 Share Posted October 7, 2021 I spoke to a couple guys at Tema at this site to congratulate them on the permits. They told me they’re looking to break ground by “Summer 2022 but hopefully sooner.” 9 Quote Link to comment Share on other sites More sharing options...
Popular Post hindesky Posted May 3, 2022 Popular Post Share Posted May 3, 2022 12 Quote Link to comment Share on other sites More sharing options...
toxtethogrady Posted May 9, 2022 Share Posted May 9, 2022 On 10/7/2021 at 12:05 PM, houstontexasjack said: I spoke to a couple guys at Tema at this site to congratulate them on the permits. They told me they’re looking to break ground by “Summer 2022 but hopefully sooner.” Looks like Summer it is... 4 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted May 24, 2022 Share Posted May 24, 2022 I recently spoke to a PM on site who now said “maybe next year” on breaking ground on Two Hermann Place. He did not seem particularly confident in that. Quote Link to comment Share on other sites More sharing options...
hindesky Posted May 24, 2022 Share Posted May 24, 2022 "-Nitya Capital, a leading national privately-owned real estate investment firm headquartered in Houston, today announced a portfolio sale of five Houston multifamily assets, consisting of more than 1500 units." https://www.businesswire.com/news/home/20220523005783/en/ Nitya-Capital-Exits-Houston-Multi-Family-Portfolio I wonder if they are hurting for money. 2 Quote Link to comment Share on other sites More sharing options...
swtsig Posted May 24, 2022 Share Posted May 24, 2022 2 hours ago, hindesky said: "-Nitya Capital, a leading national privately-owned real estate investment firm headquartered in Houston, today announced a portfolio sale of five Houston multifamily assets, consisting of more than 1500 units." https://www.businesswire.com/news/home/20220523005783/en/ Nitya-Capital-Exits-Houston-Multi-Family-Portfolio I wonder if they are hurting for money. haha you realize people sell assets in times other than being short on cash, right? 3 2 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted May 24, 2022 Share Posted May 24, 2022 1 hour ago, swtsig said: haha you realize people sell assets in times other than being short on cash, right? I thought Tema Development was the owner of this site and Nitya was just a syndicator for capital—but I don’t see Two Hermann as an investment option with Nitya, so I’m not sure if Tema’s still using them to try to raise equity. Quote Link to comment Share on other sites More sharing options...
aachor Posted May 25, 2022 Share Posted May 25, 2022 (edited) 8 hours ago, swtsig said: haha you realize people sell assets in times other than being short on cash, right? I think we're riding a serious housing bubble and we've already passed the high water mark. If they're thinking the same thing, now is the time to sell. I doubt this will be as bad as 2008, but even so, it could be 5-8 years before inflation-adjusted prices recover. Houston does seem pretty resilient to bubbles bursting though. Where I'm from in small-town Michigan, prices have only just gone up to 2008 levels. My parents were under water on their mortgage for a decade. Edited May 25, 2022 by aachor 2 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted July 28, 2023 Share Posted July 28, 2023 A new trailer was getting put in on this site today to replace the old one. 7 Quote Link to comment Share on other sites More sharing options...
hindesky Posted July 31, 2023 Share Posted July 31, 2023 I think the Museum of Natural Science is still using the lot for employee parking. 6 Quote Link to comment Share on other sites More sharing options...
ChannelTwoNews Posted February 28 Share Posted February 28 Tema Development's The Parklane apartment-to-condo conversion wraps up - Houston Business Journal (bizjournals.com) "The building sits along the northeastern edge of Hermann Park and is part of Tema Development’s master plan for the 6.8-acre site it owns there, which also includes One Hermann Place, at 1699 Hermann Drive, which was completed in 2016, and the 32-story Two Hermann Place, at 1661 Hermann Place, which is still under construction." Um... who wants to tell the reporter about the HMNS-contracted parking over there? 5 Quote Link to comment Share on other sites More sharing options...
houstontexasjack Posted February 28 Share Posted February 28 3 hours ago, ChannelTwoNews said: Tema Development's The Parklane apartment-to-condo conversion wraps up - Houston Business Journal (bizjournals.com) "The building sits along the northeastern edge of Hermann Park and is part of Tema Development’s master plan for the 6.8-acre site it owns there, which also includes One Hermann Place, at 1699 Hermann Drive, which was completed in 2016, and the 32-story Two Hermann Place, at 1661 Hermann Place, which is still under construction." Um... who wants to tell the reporter about the HMNS-contracted parking over there? Tema was previously working with Nitya Capital on this. The most recent write-up I recall referencing Nitya is the one below, which just briefly mentioned them as one of the companies facing apparent distress: https://therealdeal.com/magazine/national-december-2023/syndicators-are-sinking-wholl-make-it-out-alive/ Two Hermann Place is at least fully permitted.......if rates drop a bit and there's an itch to get something up relatively quickly in anticipation of multifamily shortages in 2026 and beyond, I'd guess it might have a shot. I dunno if Nitya would be the one to get the equity in order, though. 2 1 Quote Link to comment Share on other sites More sharing options...
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