FOR IMMEDIATE RELEASE
February 24, 2012
Contact: Brent Mann, Vista Private Equity Group, (281) 560-7375, email@example.com
St. Luke’s Episcopal Health System Purchases 10.3 Additional Acres for Katy Hospital Campus
Vista Equities Group and Vista Private Equity Group, LLP have announced the sale of an additional 10.3 acres of The Reserve at Grand Parkway (“The Reserve”) site to St. Luke’s Episcopal Health System (“St. Luke’s”) for a new hospital campus. During November 2007, St. Luke’s purchased 27.4 acres of The Reserve for its new hospital campus. The Reserve is located at the southwest corner of the Grand Parkway and Kingsland Boulevard in Katy, Texas. The Reserve is one of the few prime tracts of land remaining between Interstate 10 and the Westpark Tollway with Grand Parkway frontage.
The Reserve is an estimated $200 million project. It represents the second significant investment in the Katy area by The Vista Companies with acquisition, infrastructure and related costs in excess of $30 million. Vista Equities Group, with its equity partner Amstar Group, developed LaCenterra at Cinco Ranch, a mixed-use town center development just south of The Reserve. Construction of Phase II is underway, with an opening anticipated during early 2013.
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 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.