FOR IMMEDIATE RELEASE
January 18, 2011
Contact: Brent Mann, The Vista Companies, (281) 560‐7375, email@example.com
Vista Companies Sell 16.7‐Acre Tract at The Reserve to Houston Developer Martin Fein Interests, Ltd.
Verona at The Reserve Scheduled to Open in 2011
HOUSTON (JANUARY 18, 2011) – Vista Equities Group and Vista Private Equity Group, LLP announce the
sale of 16.7 acres of The Reserve at Grand Parkway site to Martin Fein Interests, Ltd. (MFI). The Reserve will be home to MFI’s newest project – Verona at The Reserve. The Class A multi‐family apartment community is scheduled to open later this year. The Reserve at Grand Parkway is located just off the Grand Parkway (Hwy. 99) and Kingsland Boulevard in Katy, Texas.
Verona at The Reserve will consist of 356 luxury apartment homes. The two and three bedroom homes will offer open floor plans ranging in size from 709 square feet – 1,696 square feet with individual patios and balconies. Stylish interiors will provide the perfect blend of sophistication, comfort and convenience. Each home will feature travertine countertops, islands with pendant lighting (select units), stainless steel appliances, custom kitchen cabinets, as well as built‐ins (select units) and full‐size washers and dryers. Cable and dedicated high‐speed internet connections will be included, along with complimentary WiFi throughout the common areas. Attached (select units) and detached garages and surface and carport parking will also be available.
Community amenities will include a state‐of‐the‐art fitness club, yoga and Pilates studio, massage rooms, movie theater, Wii Game Lounge, conference room and business center, cyber café and a resortstyle pool with private cabanas and fire pit. Lush landscaping, lakes and water features will create a picturesque backdrop for the new development.
The architect for the Verona at The Reserve is Steinberg Design Collaborative AIA, LLP. Interior design provided by Moore Design Group out of Dallas, Texas. Westchase Construction, Ltd., an affiliate of Martin Fein Interests, Ltd., will serve as general contractor.
The Reserve is a $200 million mixed‐use project anchored by the planned 27.4‐acre St. Luke’s Episcopal Hospital System campus. The Reserve represents the second significant investment in the Katy area by The Vista Companies with acquisition, infrastructure and related costs exceeding $30 million. Vista Equities Group, along with Denver‐based equity partner, Amstar Group, has completed Phase I of LaCenterra at Cinco Ranch. The three‐phase, mixed‐use town center development is scheduled for completion Fall 2012 and will include approximately 700,000 square feet of retail, office and residential space. LaCenterra represents an investment of over $150 million and the creation of over 1500 jobs.
About Vista Equities Group
Vista Equities Group is part of the Vista Companies, a Houston‐based real estate services group led by longtime developer, Woody Mann. Vista Equities focuses on the development of new properties and the acquisition of existing income‐producing properties. Vista Equities’ sister firm, Vista Management Company, provides leasing and property management services for third party owners and Vista’s own investment partnerships. The senior development and property management team represents more than eighty‐five years of experience in the Texas real estate market. For more information on the Vista Companies, please visit www.vistahouston.com.
About Vista Private Equity Group, LLP
Vista Private Equity Group is a Houston‐based private equity / real estate development firm led by Greg Houghtaling, Kurt Keene and Brent Mann. Vista is focused on generating ground up retail, medical and mixed‐use development projects. In addition to real estate development, Vista also provides equity capital to support private companies facing an ownership transition or transformative growth initiatives. For more information, please visit our website at www.vistagroupllp.com.
About Martin Fein Interests, Ltd.
Founded in 1989, Martin Fein Interests, Ltd. is a regional development firm based in Houston. The company has developed almost 10,000 luxury apartments in Houston and the Southwest, including Denver, Colorado, Tucson, San Antonio and Austin. Verona at The Reserve is part of the company’s ongoing development program. For additional information, visit www.mfein.com.