Greystone Real Estate Advisors Expands in Houston with National Apartment Advisors Team

NEW YORK, April 18, 2018 (GLOBE NEWSWIRE) — Greystone, one of the nation’s preeminent real estate lending, investment and advisory companies, announced that it has welcomed National Apartment Advisors of Texas to the Greystone network. The new joint venture, Greystone NAA, focuses on providing a full range of multifamily advisory services to clients in Austin, Dallas, Houston, and San Antonio, capitalizing on Greystone’s comprehensive financial platform and NAA’s multifamily sales expertise in those regions.

Heading the Greystone NAA team is a group of real estate advisory leaders with over 80 combined years of experience. Since founding the company 5 short years ago, the NAA team has closed more than 150 transactions totaling over $1 billion. Abraham Garza III and Jordon Emmott are co-founding partners of NAA, alongside NAA partner Shayan Hasnain. Rounding out the Greystone NAA team are directors Jamie Harrington, Ryan Mendez, and Walter Montague, senior analyst Sunjay Arya, with Lindsay Steszewski leading operations.

“NAA has consistently been one of the most active and competitive brokerage companies in Houston,” said co-founding partner, Jordon Emmott. “This joint venture with Greystone will give us a platform which puts us on a level playing field with our competition. I have no doubt that we will be able to further excel as a team and deliver far superior results for our clients.”

The Greystone NAA team will specialize in multifamily and mixed-use property or land acquisitions and dispositions for both institutional and private investors. With its extensive regional market knowledge, the Greystone NAA team has been touted as a top deal producer in the Houston commercial real estate market in its five-year history.

“I am thrilled to welcome such an energetic, driven, and robust team with expansive real estate market knowledge across the state of Texas to Greystone,” said Jim McDevitt, President, Greystone Real Estate Advisors. “Combining NAA’s sales advisory expertise with Greystone’s existing lending resources based in Irving and nationwide, we have a dynamic “dream team” of entrepreneurial and motivated salespeople. I feel this team will be unstoppable, and can’t wait to see what they accomplish.”

About Greystone NAA
Greystone NAA focuses on providing a full range of multifamily advisory services in Texas. Its Real Estate Advisors team provides services in sales, acquisitions, and a full spectrum of advisory services including debt, acquisition, and investment sales in commercial real estate. For more information, visit www.greycoadvisors.com.

About Greystone
Greystone is a real estate lending, investment and advisory company headquartered in New York. Its Multifamily Real Estate Advisors team provides services in sales, acquisitions, and a full spectrum of advisory services including debt, equity, acquisition, and investment sales to multifamily owners and investors of affordable and marketrate housing. For more information, visit www.greyco.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com

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Severe Storm Warning Issued For Dallas And Eastern Areas

DALLAS, TX — A storm system moving west to east through the metroplex is likely to become severe, the National Weather Service Warns.

The severe thunderstorm warning expires at 7:15 p.m.

Strong winds and are possible.

Stay with Patch for further severe weather updates.

Severe Thunderstorm Warning including Dallas TX, Garland TX, Irving TX until 7:15 PM CDT pic.twitter.com/kmkReRDh56

— NWS Fort Worth (@NWSFortWorth) April" class="redactor-linkify-object">https://twitter.com/NWSFortWor… 6, 2018

Image via Shutterstock

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Physical Rehabilitation Network Opens New Clinic in McKinney, TX Under the Vista Rehab Partners Brand – Dallas Business Journal

MCKINNEY, Texas, March 26, 2018 /PRNewswire/ — Physical Rehabilitation Network (PRN), announced the opening of their newest physical therapy clinic in the Dallas-Fort Worth Metroplex. The McKinney clinic is located at 3565 Lakota Trail, Suite 100, and is the 19th clinic lead by Craig Rettke, PT, MBA, founder of Vista Rehab Partners. In addition to Vista’s full spectrum of outpatient orthopedic rehab services, the clinic will also offer specialties of trigger point dry needling, spinal manipulation, joint specific mobilizations, myofascial release, and management of chronic cervicogenic, cluster, and tension related headaches.

The clinic will be directed by Bobby Curtis, PT, DPT, SCS, CSCS, RKC, who was previously the director of Vista Rehab of Mesquite. "I’m thrilled to be able to bring my passion for sports medicine and functional strength and conditioning to the McKinney market," he commented. Bobby is originally from Allen, Texas and played college baseball at Wayland Baptist University for four years prior to attending Texas Tech University Health Sciences Center to obtain his Physical Therapy Degree. He is an American Board Certified Sports Specialist and has focused on athletes throughout his career spending significant time rehabbing high school, collegiate, and professional athletes, as well as Olympic competitors and Special Forces Operators.

"Vista Rehab Partners has provided high-quality care since opening their doors in 2000," mentioned Bruce McDaniel, CEO of PRN. "Expanding our footprint in the market proves that we’re committed to offering exceptional care to the community and serving the Dallas-Fort Worth Metroplex well into the future. We stand by our partners and their on-going dedication to better the lives of those in need."

You can follow @VistaRehabPartners on Facebook and Instagram and @VistaRehab on Twitter. For more information on additional services and locations visit www.vistarehab.com.

About Physical Rehabilitation Network

Physical Rehabilitation Network, LLC (PRN) is a privately held physical therapy organization based in Carlsbad, California. PRN is prominently recognized as the leading therapist-friendly rehab organization in the western part of the United States through its partnership model with premier physical and occupational therapists. The company currently operates over 100 locations providing local autonomy and branding to its therapist partners while streamlining all traditional overhead activities of running a practice.

PRN is actively seeking high quality, entrepreneurially-driven physical and occupational therapists interested in partnering with PRN as the company expands its footprint providing opportunities for therapists to own their own clinic. For more information on our model, our locations or partnership opportunities, visit PRNpt.com or contact Michael Rice at 312.560.6020 / mrice@prnpt.com. You can also follow us @PRNPhysicalTherapy on Facebook, @PRN_therapy on Twitter or on LinkedIn.

Contact:
Dawn Wild, Director of Marketing
Phone: 720-299-4808
Email: dwild@prnpt.com

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Ratings firm raises red flag about D-FW home prices

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Dallas-Fort Worth is one of most overvalued home markets in the country, a top Wall Street analyst warns.

In it most dire warning yet about the rate of North Texas home price gains, Fitch Ratings says that home prices in the D-FW area are as much as 19 percent overstated.

"The Dallas housing market has shown the most significant overheating in the last two years and is now 15 percent to 19 percent overvalued," Fitch managing director Grant Bailey said in a new report. "Overvalued markets are more likely to experience a slowdown in price growth, or a price correction."

Fitch Ratings has been warning about overheating in the local real estate market since 2015.

During that time the analyst’s estimate of overvaluation has steadily increased.

"Fitch estimates that approximately 17 percent of the country’s home prices are more than 10 percent overvalued," the report said. "Fast home price growth in some regions – California, Florida and Texas – appears to be exceeding the supporting economic fundamentals."

Along with D-FW, Las Vegas and Portland, Ore are also rated as the most overvalued markets in Fitch’s comparison of 20 major markets.

Dallas-Fort Worth home prices have shot up by more than 40 percent in the last four years and are now at record levels.

Strong employment and population growth in the area and a shortage of homes for sale has fueled the price boom, local analysts say.

Dr. James Gaines, chief economist with the Real Estate Center at Texas A&M University, said warnings by Fitch and other national analysts about the rate of D-FW home price growth are overstated.

As long as the economy continues to grow, he doesn’t believe North Texas’ home values are out of whack.

"We don’t’ think it’s a bubble," Gaines said. "These reports have been coming out for years.

"Generally I don’t pay much attention to them," he said. "You can’t ignore it because people are reading it.

While North Texas home prices have been rising faster than income increases, Gaines said things aren’t at a critical level yet.

"If the median price is six times median income you have a real problem," he said. "Currently it’s a little higher than normal but not in the danger zone."

Gaines said that eventually the rate of North Texas home price increases will slow as the economy down shifts or home supply catches up with demand.

Median prices of single-family homes sold by real estate agents in the D-FW area rose by about 10 percent in 2017 from the year before.

"Eventually the market will balance out and these near double digit rates of increase in median home prices will come to a halt and it will revert back to a 3 to 4 percent annual increase," he said. "Everybody will think the sky is falling but it is getting back to normal."

Along with D-FW, Las Vegas and Portland, Ore., other U.S. home markets where Fitch raised a red flag include Phoenix (10 percent to 14 percent overvalued) and Atlanta, Denver, Los Angeles, Sand Diego, San Francisco Seattle and Tampa – which Fitch said are 5 percent to 9 percent overvalued.

Analysts with the ratings firm said that recent increases and expected rises in home mortgage rates aren’t likely to put the brakes on home prices.

"Home price growth is likely to remain solid in most regions in the near term due to strong economic growth and tight supply," he report said. "Historically, home prices have been notably more correlated with unemployment and income growth than with mortgage rate movements."

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Dallas Doctor Talks Opioids, Substance Abuse

DALLAS, TX — The faces of drug addiction rarely match up with the stereotype. Signs of a person with a substance abuse disorder are often subtle, which is why people with these disorders suffer in silence. And contrary to popular belief, anyone from any background can have substance abuse issues.

Doctor Ralph Cox has been in the medical field for 35 years. But in the past 10 years, he has found his calling working with people struggling with substance abuse disorders.

C0x works for Pathway Healthcare, a treatment and recovery clinic in Dallas. The clinic is a one-of-a-kind treatment center in terms of Dallas’ approach to substance abuse.

That’s because it’s a comprehensive program that combines counselors and doctors together under the same roof. Because as Cox put it, "treatment is more than just medication."

Substance abuse disorder is a medical condition and, much like diabetes, it can’t be treated with medicine alone. That’s why Pathway treats addictions much like a regular doctor treats an illness — with a combination of medicine, instruction and healthy lifestyle education.

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Treatment, he said, is all about learning to deal with triggers and avoiding relapse. It’s also about providing the appropriate response for each unique substance. Not everyone who is addicted to a prescription medicine is addicted to opiates, Cox said. That’s why his practice focuses on treating each patient with a tailored approach.

It’s hard to identify how many people in Texas have substance abuse disorders, but an estimated 2,500 people died from drug overdoses in 2016 — and a majority of those were opioid-related. Perhaps it’s because 50 percent of patients who take opiate painkillers for longer than 30 days become dependent.

More on Patch:

A nationwide crackdown on prescription opiate abuse is working to curtail opiate addictions, but it hasn’t necessarily been for the better. Cox said patients who can’t obtain opiates sometimes turn to heroin, a deadly drug. Deaths from heroin overdoses have spiked as a result of the opiate crisis, he said.

Cox believes the opiate addiction began in a time when doctors started considering ‘pain’ as a vital sign. Doctors saw patients experiencing pain and immediately prescribed drugs to make it go away. As Cox put it, doctors who weren’t addressing pain weren’t considered good doctors.

But a good doctor in 2018 knows substance abuse recovery starts outside the walls of the clinic. Pathway officials work to increase access to treatment while removing the stigma associated with addiction. They also support measures to avoid law enforcement-heavy approaches when it comes to drugs.

"Locking someone up isn’t the answer. Without treatment, they will releapse," he said.

Cox said treatment is effective and strategies are in place to help patients move from where they are to where they want to be. With treatment, patients have turned their whole lives around.

"They don’t have to get up every morning and wonder where the next dose comes from."

Drug Abuse Facts:

Texas is No. 6 in terms of overdose deaths in 2015.There has been a 200 percent increase in opiate-related overdose deaths in United States between 2000 and today.In 2016, 63,000 death from drug overdoses. That’s a 22 percent increase from 2015.Pathway is located at 7515 Greenville Avenue.

Image via Pathway

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Dallas is home to one of country’s biggest concentrations of McMansions

There are mansions, and then there are McMansions. Dallas has them all.

To be sure, North Texas is heralded for its massive ranches and sprawling estates. But it turns out the Dallas area also is a mecca for McMansions.

According to a new ranking from Realtor.com, Dallas is the sixth most McMansion-y metro area among the country’s 150 biggest metros. That’s based on the percentage of homes for sale measuring at least 3,000 square feet.

Realtor.com’s research unearthed nearly 9,000 of these properties listed on the website, up 35 percent from two years ago. This represents about 40 percent of the Dallas-area homes on the market, Realtor.com says.

Realtor.com did acknowledge a limitation in its McMansion sleuthing. The research encompasses all homes on the market that have at least 3,000 square feet, not just those that could be dubbed McMansions.

“Sure, this includes some tasteful, large homes and legit mansions,” Realtor.com says. “But it was impossible to separate those from the McMansions — it’s rare to see the word ‘tacky’ in a home listing.”

So, what qualifies as a “tacky” McMansion?

“The term was first attached to some of the brash would-be luxury homes cropping up in status-crazed Los Angeles,” Realtor.com explains. “Before long, developers went McMansion Mad. From coast to coast, they erected pricey, supersized homes that hogged just about every square inch of their lots. They were fancy. They were heavily ornamented. They were made to impress.”

McMansion construction largely stalled during the housing crash and the Great Recession, according to Realtor.com. But now that the economy is back on solid footing, McMansion construction appears to be making a comeback.

“If a buyer wants a McMansion, then come to Texas — I have some great ones,” Roxann Taylor, a broker at Engel & Völkers Dallas Southlake, tells Realtor.com. “Builders are putting up 4,000- to 6,000-square-foot homes, but they can’t build them quick enough.”

By the way, the average new single-family home in the U.S. has about 2,600 square feet. In other words, a lot of us don’t occupy McMansions.

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One Of A Kind Houses: Weekend Real Estate Roundup

DALLAS, TX — House hunters, rejoice! We’re back again with the Dallas Patch Real Estate Roundup, a weekly look at some of the most unique and coveted houses in the Big D. This week’s roundup includes updated remodels and brand new beauties to suit every price range. To see all of these houses and thousands more, visit Realtor.com.

This beautiful mid-century remodel with open floors and southern style sits in a prime, central location on Northaven Road. The layout offers dual living spaces and French door access go a spacious courtyard, a pool, White Rock Creek Trail and major roadways.

Quaint Space at 3505 Regent Drive

This open-floor plan home in Sparkman Club sits on a large corner lot on Regent Drive in Dallas. With two main living areas and two flex living spaces — make the upstairs space a bedroom an office, a game room or media room — and another downstairs that would make a bright office or sitting area. Updates include all new hardwood floors, tile, carpet, lighting, tankless water heater, furnace, radiant barrier, granite counters and stainless appliances.

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Salute to Symmetry at 5459 Richmond Avenue

This craftsman style home on Richmond Avenue gleams with attention to detail in every room. Furnished with top-notch finishes, Energy Star Efficiency and Opulent appliances, this house has a warm and inviting feel. Open concept kitchen with granite counters, commercial grade appliances, butler’s pantry and wine fridge. Master Suite offers a spa bath experience with jacuzzi tub and frameless glass shower with multiple sprayers. Neighborhood has quick access to Tietze Park & Pool, Greenville Avenue, Knox-Henderson, Uptown and Downtown Dallas!

Modern Majesty at 1848 McMillan Ave

Open houses:

Feb. 10 — 12:00 p.m. to 1:30 p.m.Feb. 11 — 4:00 p.m. to 5:30 p.m.

This modern new construction is just steps away from Lower Greenville & Henderson. The McMillan Avenue dwelling feels very private, with trees outlining the property. Relax in metal and stucco exterior, walnut front door, commercial-grade roof and windows. Living room opens to the covered patio and spacious yard, perfect for a pool. Museum finished walls, white oak floors, designer light fixtures, and kitchen with Taj Mahal Quartz, walnut cabinetry, Bosch appliances, double oven and built-in fridge pull the package together. Master bath features floor-to-ceiling Porcelanosa tile from Spain. Toto toilets. Three beds, two baths up and large open gameroom.

Rustic Restoration at 11414 Cherry Ridge Court

Mid-century modern home with an over-sized garage and a heated workshop on a quiet Cul-de-sac with mature trees. Open concept with split floor plan and lots of storage.

All images via Realtor.com

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New real estate firm has area offices

Gilmer real estate broker Cathy Daniels has established Texas Real Estate Executives, buying out a real estate office in Longview with a partner and opening an office in Daingerfield.

"We are planning on quite a few future expansions in the East Texas market as well as the Dallas area," Daniels said.

A broker for 11 years, Daniels said she decided to go independent because "it was time for me to do my own thing and build a new team."

Texas Real Estate Executives was founded in December and will maintain the office Daniels has occupied for 12 1/2 years at 117 Simpson St. in Gilmer.

On Jan. 4, she said, Daniels and business partner Heather Kelly bought out Skip Morton & Associates and renamed that office Texas Real Estate Executives Next Level Agents. The address is 4121 Gilmer Road, Suite 300. Terms of the transaction were not disclosed.

On Monday, Daniels said she opened a Texas Real Estate Executives office in Daingerfield at 302 Broadnax St.

She said the offices handle a variety of real estate, including residential, commercial, and farm and ranch.

She has scheduled grand openings for 11 a.m. to 2 p.m. Thursday in Gilmer and 10 a.m. Feb. 8 in Daingerfield.

All three offices maintain business hours of 8 a.m. to 6 p.m. weekdays and weekends by appointment.

Fit House Café delayed

The Fit House Café, which was planning to open Friday in the building formerly occupied by Hebert’s Specialty Meats at 1301 Judson Road, has postponed its opening to Feb. 16,.

The reason, said co-owner Biff Speer, is that recent inclement weather slowed progress both on equipment inside and completion of the establishment’s exterior sign.

"The weather slowed the sign people down," said Speer, who will own the restaurant with his sister Kelli. "Those are things we had no control over."

Speer previously said Fit House Café plans to serve buffalo meat, black Angus beef, turkey, chicken, and, for the vegetarians, black beans. The restaurant also plans a complete vegan menu.

He said he and his sister plan to conduct a grand opening three to four weeks after the Fit House Café opens.

Business hours will be 6:30 a.m. to 7 p.m. weekdays, 8 a.m. to 8 p.m. Saturday and 11 a.m. to 6 p.m. Sunday.

Gilmer shop changes hands

Judy and Heath Langford have made some changes at the Nelms at The Hudgins House shop at 115 W. Tyler St. in Gilmer, since they bought it from Vici Wolfe a few months ago, Judy Langford said.

Langford said she decided to replace the salon with a tea room in part because she could not find anyone to keep the salon.

The Langfords have taken over a business that has been around for more than 80 years and occupied several locations on the city’s square. Judy Langford said Wolfe posted it for sale on Craigslist for $40,000 (not including the building).

"We saw potential in the store," said Langford, formerly a stay-at-home mom for 13 years. "We saw that we could do things at the store. With memories being with the store, we did not want to see it shut down."

Nelms sells candles, signs, lamps, furniture and a variety of other items.

"I’ve got floral arrangements in here," Langford said. "I’ve got kitchen items. I’ve got European soaps. And I’ve got house decorations like wooden signs."

Langford said she also plans to add a men’s outdoor section on the main floor, selling items that include playing cards and bourbon barrels.

Nelms at the Hudgins House is open from 10 a.m. to 5:30 p.m. weekdays and 10 a.m. to 2:30 p.m. Saturday.

Bon Temps to reopen

Bon Temps Sports Bar & Grill at 115 E. Tyler St. has been closed since the Christmas holiday period and is restructuring with plans to reopen in early February, said LaCoya Plater, who owns the restaurant with husband Jonathan.

She said the Louisiana-style restaurant is assembling a new management team "with an entire new staff. We are still interviewing. We have to get a new staff together."

The Platers opened Bon Temps, Creole for "good times," about a year ago in a building that formerly housed Willy G’s Bar & Grill, which closed in September 2015 after 5 1/2 years in business. They opened Haze on Texas nightclub in downtown Shreveport in May 2015.

— Business Beat appears Sunday. If you have items for the column, email to newsroom@news-journal.com; mail to Business Section, Longview News-Journal, P.O. Box 1792, Longview, TX 75606; or call (903) 237-7744.

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Tips For Buying Dallas Texas Real Estate

If you’re in the market for a new home in Dallas Texas, there are many things you need to keep in mind. The last thing you should do is simply choose the cheapest home or the first “good” property that you see. There are many things that you should consider before buying a home. After all, purchasing a property would most likely be the biggest purchase you’ll ever make in your life. So, we will now cover a few tips that you should keep in mind.

The first tip is that you should think about the needs of yourself and the needs of your family before you start looking at properties. Basically, you should know what you want and what type of property you’re looking for before you start your property search. So, for example, if you’re planning on extending your family, you should make sure there are enough bedrooms in the home to do so. You should also take into consideration how much back yard space you need etc.

Next, another thing you should consider is the location of the property. It is best to choose a home that is relatively close to your workplace, your partner’s workplace as well as schools for the kids etc. This is essential if you want to save yourself a lot of stress in daily commute.

Lastly, instead of looking for real estate on your own, you should definitely look into hiring a real estate agent. They will help you to quickly find the best properties based on your needs and budget.

In closing, we have just looked at a few tips to help you buy real estate in Dallas Texas. So, be sure to keep these guidelines in mind and you’ll find a new home in no time.