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Solms Landing CONFIDENTIAL OFFERING +/- 98 AC Mixed Use ... · including New Braunfels Town Center,...

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CREEKSIDE CROSSING Solms Landing Solms Landing +/- 98 AC Mixed Use Development CONFIDENTIAL OFFERING MEMORANDUM MULTIFAMILY AND SENIORS HOUSING DEVELOPMENT SITES
Transcript
Page 1: Solms Landing CONFIDENTIAL OFFERING +/- 98 AC Mixed Use ... · including New Braunfels Town Center, San Marcos Premium Outlets, and Gruene Hall. A potential investor has the opportunity

CREEKSIDE CROSSING

Solms Landing

Solms Landing+/- 98 AC Mixed Use Development

CONFIDENTIAL OFFERING MEMORANDUM

MULTIFAMILY AND SENIORS HOUSING DEVELOPMENT SITES

Page 2: Solms Landing CONFIDENTIAL OFFERING +/- 98 AC Mixed Use ... · including New Braunfels Town Center, San Marcos Premium Outlets, and Gruene Hall. A potential investor has the opportunity

DISCLAIMERThis Offering Memorandum has been prepared by HFF for use by a limited number of recipients. All information contained herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, expressed or implied, as to the accuracy or completeness of the information contained herein. Further, the Offering Memorandum does not constitute a representation that no change in the business or affairs of the property or the Owner has occurred since the date of the preparation of the Offering Memorandum. All analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the recipient. HFF and Owner and their respective officers, directors, employees, equity holders and agents expressly disclaim any and all liability that may be based upon or relate to the use of the information contained in this Offering Memorandum.

Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective investors.

Owner and HFF each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations to any recipient reviewing this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the purchase of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have been satisfied or waived.

The recipient (“Recipient”) agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum, which is a matter of public record, or is provided from sources available to the public (b) the Recipient, the Recipient’s employees, agents and consultants (collectively, the “need to know parties”) will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without the prior written authorization of HFF and the Owner, and (c) the Recipient and the need to know parties will not use or permit to be used this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Owner or HFF or for any purpose other than use in considering whether to purchase the property. The Recipient and the need to know parties agree to keep this Offering Memorandum and all confidential information contained herein permanently confidential and further agree to use this Offering Memorandum for the purpose set forth above. If the Recipient has no interest in the property, or if in the future the Recipient or owner discontinue such negotiations, the Recipient will return this Offering Memorandum to HFF.

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CONTENTS

EXECUTIVE SUMMARY ................ 4

INVESTMENT HIGHLIGHTS ........ 6

LOCATION OVERVIEW ................ 10

MARKET OVERVIEW ..................... 18

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CANYON MIDDLE SCHOOL

SAN MARCOS PREMIUM OUTLETS

NEW BRAUNFELS TOWN CENTER AT CREEKSIDE

Solms Landing

OAK CREEK ELEMENTARY SCHOOL

OAK CREEK ESTATES

KB HOMESWEST VILLAGE AT CREEKSIDE

HEATHER GLENN MASTER-PLANNED COMMUNITY:

187 acres, 540 lots, and up to 480 apartment units

PH. IVUNDER CONSTRUCTION

HFF is pleased to offer the unique opportunity to purchase multifamily, senior housing, or hospitality development sites within Solms Landing (The “Property” or “Site”), a 98-acre master planned mixed-use development located in New Braunfels, Texas. The Site has been zoned “SLPD” (Solms Landing Planned Development) which is designated “Medium-High Density Residential” and “Commercial” on New Braunfels’ Future Land Use Plan. The site is just a half mile away and has direct access to Interstate 35 (112,000 VPD) and is situated in the high growth corridor between Austin and San Antonio. The Austin to San Antonio corridor of I-35 has attracted distribution centers from both Wal-Mart (2.5 miles from the site) and Amazon (12 miles to the site) that added in excess of 3,700 jobs in the immediate area. The Titan Industrial Park development is 2.5 miles north of the site and plans to provide 1.9 million square feet of office space upon completion. Downtown New Braunfels is just 10 minutes away and major employers in the area include Comal ISD, Resolute Health, Christus Santa Rosa Medical Center, Wal-Mart, Amazon, and Texas State University. The Site is in close proximity to some of the best retail and entertainment amenities New Braunfels has to offer, including New Braunfels Town Center, San Marcos Premium Outlets, and Gruene Hall. A potential investor has the opportunity to buy this parcel of land to build a mixed-use development that can include high density residential (apartments), low density residential (townhomes), offices, retail, and hotels.

4 EXECUTIVE SUMMARY

Acres 97.97

Square Feet 4,267,573

Zoning SLPD

Maximum Height 100 Feet

Maximum Building Coverage (non-residential) 40%

Maximum Building Coverage (residential) 60%

Maximum FAR 1.5 : 1

SITE DEVELOPMENT DETAILS

Page 5: Solms Landing CONFIDENTIAL OFFERING +/- 98 AC Mixed Use ... · including New Braunfels Town Center, San Marcos Premium Outlets, and Gruene Hall. A potential investor has the opportunity

CANYON MIDDLE SCHOOL

SAN MARCOS PREMIUM OUTLETS

NEW BRAUNFELS TOWN CENTER AT CREEKSIDE

Solms Landing

OAK CREEK ELEMENTARY SCHOOL

OAK CREEK ESTATES

KB HOMESWEST VILLAGE AT CREEKSIDE

HEATHER GLENN MASTER-PLANNED COMMUNITY:

187 acres, 540 lots, and up to 480 apartment units

PH. IVUNDER CONSTRUCTION

5EXECUTIVE SUMMARY

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PROLIFIC GROWTH CORRIDOR Ranked as the second-fastest growing city in the U.S. for the second consecutive year, the city of New Braunfels continues to command the attention of national retailers, employers, investors, and families alike. Its high quality of life and convenient location between Austin and San Antonio has translated to sustained population growth and the need for surrounding development. The location of Solms Landing benefits greatly from the proximity to each city shown through Amazon and Wal-Mart’s strategic decisions to place distribution centers near the Site. As Austin, San Antonio, and everything in between continue to see prolific growth, the Site will benefit and demand for mixed-use will continue to rise, satisfying the needs of growing population desiring a live-work-play environment outside of the major metros.

EXPLOSIVE ECONOMIC GROWTHThe Site will continue to benefit from continued population growth in New Braunfels, as the city was the 2nd fastest growing in the nation for the second consecutive year. New Braunfels’ central location between San Antonio and Austin positions the city for continued population and economic growth and consequently, organic rent growth, as this corridor along IH-35 continues to flourish as evidenced by the area’s burgeoning demographics.

6 INVESTMENT HIGHLIGHTS

38.5%

HOUSEHOLDGROWTH

POPULATIONGROWTHSince 2010 Since 2010

38% $92K

AVERAGEHOUSEHOLD INCOME

$92,393

WITHIN 5 MILE RADIUS

(9.5% expected through 2024) (10% expected through 2024)

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PROXIMITY TO ECONOMIC DRIVERSThe Site is positioned at the northern edge of New Braunfels next to many major employers, large retail amenities, and affluent residential areas. The Wal-Mart Distribution Center is located just 2.5 miles from the Site and employs over 1,200 employees. Titan Industrial Park (already home to CGT), 96-acre site 2.5 miles from the property, is being developed by Titan Development and will contain about 1.9 million square feet of industrial space upon completion. Amazon’s Distribution Center is also near the Site, located 12 miles and employing 2,500 employees. Downtown New Braunfels, a bustling center for local business and entertainment amenities is 4.7 miles away. Two hospitals are located in close proximity to the site, including Resolute Health and Christus Santa Rosa. Resolute Health, a 365,000 square-foot campus, is directly across FM 306 less than half a mile away (walkable) and employs over 400 people. Christus Santa Rosa is located 5.3 miles away and employs over 500 people. In addition, Palfinger is eyeing area off of FM 306 to place its’ headquarters and TaskUs has already acquired space that could bring up to 1,000 jobs to the area. There is new retail and entertainment located directly next to the site, including the New Braunfels Town Center at Creekside which is home to tenants such as Creekside Cinemas, Dick’s Sporting Goods, Target, Hobby Lobby, Ross, Best Buy, and many more. Additionally, there is an H-E-B plus! within one mile of the site.

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IMPACT FEESThe City of New Braunfels recently increased impacts fees in the city by $1,940 per unit on residential developments. Solms Landing is grandfathered in under the old fee schedule, saving a multi-family development, townhome development, or single-family development a significant amount of capital. On a 675-unit multifamily development, a developer would save over $1.3 million in park fees. Additionally, water quality fees have been waived. NBU water will be $7,989 per LUE, while NBU wastewater will be $3,251 per LUE.

CITY APPROVALNew Braunfels has supported the project through two key funding sources. The city has approved a Public Improvement District for up to $12.5M in upfront funding to be utilized for infrastructure, drainage, parks, and green space. In addition, the City & Comal County are working on a $36M TIRZ whose funding will be allocated according to “Allocation of TIRZ Funding” table. The TIRZ will be financed by New Braunfels backed special financing bonds.

ALLOCATION OF TIRZ FUNDING

ROAD UPGRADES $1,034,125

STORM DRAINS $1,160,000

PARKING STRUCTURES $25,650,000

FIBER OPTIC NETWORK $420,000

PROFESSIONAL SERVICES $465,000

2 YEARS CARRIED INTEREST $1,050,000

CENTRAL PARK $1,187,000

LANDSCAPING & IRRIGATION $1,428,520

PUBLIC ART $875,000

KOWALD $1,750,000

N/S COLLECTOR $1,250,000

8 INVESTMENT HIGHLIGHTS

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SOLMS LANDINGNEW BRAUNFELS, TX

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DOWNTOWN NEW BRAUNFELS

FREHEIT VILLAGE RETAIL CENTER

HOMEWOOD SUITESBY HILTON

Solms Landing

CREEKSIDE VUE APARTMENTS

NEW BRAUNFELS TOWN CENTER AT CREEKSIDE

WALNUT SQUARE

NEW BRAUNFELSREGIONAL AIRPORT

3.5 miles

COURTYARD PLAZA

CANYON HIGH SCHOOL

KB HOMESWEST VILLAGE AT CREEKSIDE

AUGUST FIELDS MASTER PLANNED SINGLE FAMILY DEVELOPMENT

CHESMAR HOMES: expected delivery of 309 units

10MIN

20MIN

30MIN

35MIN

DOWNTOWN NEW

BRAUNFELS

SAN MARCOS SAN ANTONIO INT’L AIRPORT

DOWNTOWN SAN ANTONIO

40MIN

45MIN

2.5HRS

3.5HRS

AUSTIN-BERGSTROM

INT’L AIRPORT

DOWNTOWN AUSTIN

HOUSTON HOUSTON

DRIVE TIMES

10 LOCATION OVERVIEW

NEW BRAUNFELS OVERVIEWAustin and San Antonio get a lot of attention for their consistent growth and economic prowess, and rightly so. But smaller cities like New Braunfels, located between those two cities and offering a unique combination of charm, convenience and family friendliness, are making an impressive impact on Texas. The city of New Braunfels’ was the second fastest growing large city in the United States with populations of 50,000 or more with an annual growth rate of 7.2% between 2017 and 2018. Growth is not only shown in the population but shown in corporate presence, with both Amazon and Wal-Mart choosing the New Braunfels-San Marcos area as location for Central Texas Distribution Centers. The median home price in New Braunfels rose 9.4 percent from January 2017 to January 2018 according to Texas Realtor Data Relevance Project, further showing the proven growth in the Austin-San Antonio Corridor. As the larger cities continue to sprawl outward, areas like New Braunfels are poised to be the biggest beneficiaries making future development to these areas look extremely attractive.

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DOWNTOWN NEW BRAUNFELS

FREHEIT VILLAGE RETAIL CENTER

HOMEWOOD SUITESBY HILTON

Solms Landing

CREEKSIDE VUE APARTMENTS

NEW BRAUNFELS TOWN CENTER AT CREEKSIDE

WALNUT SQUARE

NEW BRAUNFELSREGIONAL AIRPORT

3.5 miles

COURTYARD PLAZA

CANYON HIGH SCHOOL

KB HOMESWEST VILLAGE AT CREEKSIDE

AUGUST FIELDS MASTER PLANNED SINGLE FAMILY DEVELOPMENT

CHESMAR HOMES: expected delivery of 309 units

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12

www.creoarc.com

PROJECT:

ISSUE DATE:

DRAWN BY:

CHECKED BY:

STRUCTURALStructural Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

CIVILCivil Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

51 Essex Street . San Antonio . TX 78210

210.943.3777 [email protected]. E.

PROJECT

DESIGN TEAM

DWG INFO

SHEET TITLE

SHEET NUMBER

REVISIONS

NAME:

ADDRESS:

CLIENT

PROJECT KEY

PROFESSIONAL SEAL

LANDSCAPELandscape Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

MECHANICAL, ELECTRICAL & PLUMBINGMEP Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

*Original drawing is 30 x 42. Do not scale contents of this drawing.

DATE: 07/23/2018

ALL REPRODUCTION & INTELLECTUAL PROPERTY RIGHTS RESERVED © 2018

INTERIORSInteriors Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

PRELIMINARYNOT FOR CONSTRUCTION

A901

3D VIEWS

1811

MASTER PLAN

2019_0207

Author

Checker

SOLMS LANDING

New Braunfels, TX

13D Presentation 01

23D Presentation 02

No. Description Date

RESIDENTIAL........................

RESIDENTIAL........................

OFFICE..................................

RETAIL...................................

FOOD + BEVERAGE.............

GALLERY................................

HOTEL / CONVENTION........

GROCERY................................

PARKING STRUCTURE.........

ENTERTAINMENT..................

RESIDENTIAL (SH)...............

BUILDING PROGRAM

DETENTION POND...............

HIKE + BIKE TRAIL................

PRELIMINARY PLANNING + MASSING - 3D NW

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MASSING PLAN 1

LOCATION OVERVIEW

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HIKE/BIKE TRAIL

HIKE/BIKE TRAIL PARKING 40 SPACES

DRAINAGE EASEMENT

NEIGHBORHOOD PARK

www.creoarc.com

PROJECT:

ISSUE DATE:

DRAWN BY:

CHECKED BY:

STRUCTURALStructural Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

CIVILCivil Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

51 Essex Street . San Antonio . TX 78210

210.943.3777 [email protected]. E.

PROJECT

DESIGN TEAM

DWG INFO

SHEET TITLE

SHEET NUMBER

REVISIONS

NAME:

ADDRESS:

CLIENT

PROJECT KEY

PROFESSIONAL SEAL

LANDSCAPELandscape Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

MECHANICAL, ELECTRICAL & PLUMBINGMEP Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

*Original drawing is 30 x 42. Do not scale contents of this drawing.

DATE: 07/23/2018

ALL REPRODUCTION & INTELLECTUAL PROPERTY RIGHTS RESERVED © 2018

INTERIORSInteriors Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

PRELIMINARYNOT FOR CONSTRUCTION

A101

GROUND FLOOR

1811

MASTER PLAN

2019_0207

Author

Checker

SOLMS LANDING

New Braunfels, TX

1" = 400'-0"1Ground Level

1" = 400'-0"2Off/Htl - L2

No. Description Date

HIKE/BIKE TRAIL

HIKE/BIKE TRAIL PARKING 40 SPACES

DRAINAGE EASEMENT

NEIGHBORHOOD PARK

www.creoarc.com

PROJECT:

ISSUE DATE:

DRAWN BY:

CHECKED BY:

STRUCTURALStructural Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

CIVILCivil Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

51 Essex Street . San Antonio . TX 78210

210.943.3777 [email protected]. E.

PROJECT

DESIGN TEAM

DWG INFO

SHEET TITLE

SHEET NUMBER

REVISIONS

NAME:

ADDRESS:

CLIENT

PROJECT KEY

PROFESSIONAL SEAL

LANDSCAPELandscape Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

MECHANICAL, ELECTRICAL & PLUMBINGMEP Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

*Original drawing is 30 x 42. Do not scale contents of this drawing.

DATE: 07/23/2018

ALL REPRODUCTION & INTELLECTUAL PROPERTY RIGHTS RESERVED © 2018

INTERIORSInteriors Consultant123 XX St., Suite XXSan Antonio, Texas 78XXX

PRELIMINARYNOT FOR CONSTRUCTION

A101

GROUND FLOOR

1811

MASTER PLAN

2019_0207

Author

Checker

SOLMS LANDING

New Braunfels, TX

1" = 400'-0"1Ground Level

1" = 400'-0"2Off/Htl - L2

No. Description Date

SCALE : 1” = 400’

SCALE : 1” = 400’

LEVEL : 2+

LEVEL : GROUND

PRELIMINARY PLANNING + MASSING - PLANS

RESIDENTIAL........................

RESIDENTIAL........................

OFFICE..................................

RETAIL...................................

FOOD + BEVERAGE.............

GALLERY................................

HOTEL / CONVENTION........

GROCERY................................

PARKING STRUCTURE.........

ENTERTAINMENT..................

RESIDENTIAL (SH)...............

BUILDING PROGRAM

DETENTION POND...............

HIKE + BIKE TRAIL................

7

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MASSING PLAN 2

4.5 Acres | Seniors Housing10 Acres | Seniors Housing

1.5 to 3 Acres | Hotel12 Acres | Garden MF

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MAJOR EMPLOYERS

Amazon Fulfillment Centers – (3,500 Employees) two separate projects totaling $358 million and collectively covering over 2 million square feet; the larger of the two is near Schertz, TX, 16 miles southwest from Solms Landing, and the other location is near San Marcos, 12 miles northeast from Solms Landing.

Wal-Mart Distribution Center – (1,200 Employees) with over one million square feet and over 12 miles of conveyor belt, the Wal-Mart Distribution Center employs over 1,200 people and supplies products to Wal-Mart customers throughout Texas. Located 2.5 miles from the Site.

CGT – (275 Employees) located less than 2 miles from the site off 1101 just east of the Walmart Distribution Center, CGT employees 275 people through a project that cost $80 million to expand their world leading production of coated fabrics and films for automotive and industrial applications.

TaskUs – (1,000 Employees) a company specializing in providing a plethora of business services to digital brands such as Tinder, Wish, Hootsuite, Hotel Tonight, and Sparefoot is expanding its’ San Antonio operations to provide over 1,000 jobs to the New Braunfels area.

Resolute Health Hospital – (400 Employees) located directly across FM 306 from the Site (walkable), Resolute Health Hospital is composed of 365,000 square feet of medical space and employs over 400 people.

Christus Santa Rosa (500 Employees) – a medical center that is part of the South Texas Medical Center,

14 LOCATION OVERVIEW

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Christus Santa Rosa Healthcare was founded in 1869 by the Sisters of Charity of the Incarnate Word. Today, it’s the only Catholic faith-based non-profit, health care system and includes five full service hospitals and over 4,000 employees. It’s New Braunfels location employs over 500 people.

Comal ISD – (2,300 Employees) Spanning 589 square miles of Central Texas, Comal ISD enrolls over 18,500 students at its intersection between 5 counties. Its 27 schools sit within close reach of three major highways, including Interstate 35, U.S. Highway 281, and Texas Highway 46.

Schlitterbahn Waterpark – (1,500 Employees) Schlitterbahn spans over 71 acres of land, features over 51 rides, and is voted the #1 most popular summertime waterpark in the United State. Schlitterbahn employs over 1,500 employees.

Texas State University – (2,000 Employees) Texas State University educates over 35,000 students per semester in 96 bachelors programs, 87 masters programs, and 12 doctoral programs. In addition, the University currently provides employment to over 2,000 full-time staff.

Palfinger – a manufacturer of hydraulic lifting, loading, and handling systems and cranes is considering a 100,000 square foot portion of Coleman Industrial Park (less than 3 miles from Solms Landing) on Farm-to-Market Road 306 to relocate its’ headquarters and bring over 200 high-wage jobs to the area.

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ENTERTAINMENT AMENITIES

New Braunfels Town Center at Creekside – home to over 54 stores and 1 movie theatre, New Braunfels Town Center is a class A retail development home to brand names such as Target, Best Buy, Dick’s Sporting Goods, JCPenny, Men’s Warehouse, Spec’s, amongst others.

San Marcos Premium Outlets – 140 Outlet stores that are home to the world’s finest international fashion labels and American brands. Major retailers here include Armani, Calvin Klein, Gucci, Saks Fifth Avenue, Nieman Marcus, Diane Von Furstenberg, Cole Haan, Victoria’s Secret, Pottery Barn, and many more.

Schlitterbahn – ranked the #1 waterpark in the world for the last 20 years, Schlitterbahn has over 51 attractions on over 71 acres and attracts over 2 million visitors every year

Comal and Guadalupe Rivers – New Braunfels has two beautiful rivers, perfect for recreational water activities and cultivating appreciation of our natural resources. The Comal River is spring fed and offers a consistent float experience with limited rapids. The Guadalupe River is fed by releases from Canyon Lake which can vary, and offers a more rugged experience.

Gruene Hall – Built in 1878, Gruene Hall is the oldest running dance hall and the birthplace to many great song writers and musicians, including Jerry Jeff Walker, Lyle Lovett, and countless more. Its history and proximity to Austin, the live music capital of the world, draws thousands of visitors annually.

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INFRASTRUCTURE TIMELINEESTIMATED COMPLETION DATES

ROADWAYS

PHASE I HIKE & BIKE TRAILS

MASTER DETENTION & DRAINAGE

MUSIC VENUE & DOG PARK

JANUARY

2020

JANUARY

2020

JANUARY

2020

FALL

2020

LOCATION OVERVIEW

SOLMS LANDINGNEW BRAUNFELS, TX

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SOLMS LANDINGNEW BRAUNFELS, TX

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APARTMENT MARKET OVERVIEWBoosted by a strong and growing economy, San Antonio’s multi-housing fundamentals are especially robust. Population, job growth, and corporate relocations have led to continued momentum of millennial arrivals in San Antonio, cultivating continued positive occupancy and rent growth trends established over the last several years. Average occupancy in San Antonio now sits at 92%, slightly up from occupancy levels 12 months ago. Rents have also benefitted from the broader growth of the city, increasing 4.19% over the last year, notably having a strong Q1 2019 growth of 1.70% after overall modest growth in 2018. The economy of the metro area maintains extremely low unemployment rates and realizes ongoing further diversification as the military, tourism, financial services, tech, and cyber security industries are persisting with expansion.

NEW BRAUNFELS SUBMARKET OVERVIEWThe Site is in the New Braunfels submarket, which is comprised of 14 Class A properties totaling 3,208 units. The Class A submarket closed Q1 2019 with an occupancy of 90%. Across all classes, the submarket has seen strong absorption over the last 12 months of 771 units, outpacing deliveries in the same time period by nearly 200 units or 33%.

MARKET OVERVIEW

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SOLMS LANDINGNEW BRAUNFELS, TX

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SINGLE FAMILY MARKET OVERVIEWThe average home value in New Braunfels hovers around $300,000 and nearly 75% of the population is married – this bodes well for families to move into and around the New Braunfels area to establish a long-term home. As it relates to schooling, Freheit Elementary School, Canyon Middle School, and Canyon High School are all near the property. In fact, the Hunter Neighborhood area where the property is located has been ranked as the 2nd best neighborhood in New Braunfels for education, as well as the 3rd greatest growth in income relative to other parts of New Braunfels. With numerous retail properties surrounding the area, as well as a 1.9 million square foot industrial development property just down the road, this area has positive indicators for continued growth in population, as well as continued growth from an economic standpoint that would suggest a favorable outlook.


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