Daily Briefing: 🌆 Nowak Navigates to Partners RE, Bringing Half-Billion Transactions! 🚀

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Here’s what you need to know about CenTex CRE Today:

1. Stan Nowak brings $500M transaction prowess to Partners Real Estate. 💼

2. Merriman Anderson kicks off $88M Round Rock affordable community project. 🏡

Personnel Moves in Real Estate

Stan Nowak joins Partners Real Estate from Avison Young as a partner in Austin

Source: REJournals

Summary: Stan Nowak, a highly experienced commercial real estate professional, has joined Partners Real Estate in Austin after a successful stint at Avison Young. With 19 years of experience, Nowak brings a wealth of experience in industrial and office brokerage services, both from Southern California and Austin. His time at Avison Young was also marked by land brokerage deals across hundreds of acres for various development initiatives and he's accounted for over half a billion dollars in sale and lease transactions.

Why this matters: The arrival of Nowak to Austin signifies the city's ongoing appeal and growth in the commercial real estate sector. His expertise, particularly in industrial real estate and land brokerage, could signal new opportunities and trends for local brokers to watch out for in their business strategies.

Affordable Housing Development

Merriman Anderson Architects designs affordable rental community in Round Rock

Source: REJournals

Summary: Merriman Anderson Architects (MAA) has begun construction on Preserve at Mustang Creek, an $88 million rental community in Round Rock, north of Austin. The garden-style project will include 252 units, a clubroom, indoor and outdoor play spaces, and a resort-style pool. The community will also feature a large solar carport to offset most of the common electricity use. Developed by LS Black Development, the community is aimed at households earning 30% to 60% of the area's median income. It is expected to be completed in September 2025.

Why this matters: The development of an affordable residential project like this in Round Rock presents an opportunity for commercial real estate professionals to tap into the incr00easing demand for affordable housing in Central Texas and expand their client portfolios.