Cypress Real Estate Advisors

O U R
M I S S I O N
AC Q UIRE AND D EV ELOP REAL ESTATE ASSETS THAT PROVIDE
SUPERIO R RISK -ADJUSTED RETURNS TO OUR INVESTORS
MAINTAIN C O NSISTENTLY HIGH STANDARDS OF INTEGRITY,
SERVIC E AND AC COUNTABILITY TO OUR INVESTORS,
RESID ENTS , TENANTS AND EMPLOYEES
ENHANC E AND C ONTRIBUTE TO THE COMMUNITIES IN WHICH
WE ARE AC TIVELY INVOLVED
N O I S S IM
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E D I V O R P T A H T S T E S S A E T AT S E L A E R P O L E V E D D N A E R I U Q C A
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D E VL O V N I Y L E V I T C A E R A E W
O V E RV I E W
CYPRESS REAL ESTATE ADVISORS is a private real estate investment and development
firm that invests in a diverse group of real estate assets, primarily in the southwestern
and southeastern United States. Since its inception in 1995, the firm has managed
institutional real estate capital, and counts among its investors some of the largest
private endowments, foundations and financial institutions. Cypress invests and
develops across a wide spectrum of product types, including both single-family and
multi-family residential, mixed-use land development, hospitality and commercial
assets. To date, Cypress has raised and managed five discretionary investment funds
that have placed almost $1 billion of equity on behalf of institutional investors
to acquire and develop more than $2 billion in real estate assets. The Cypress
investment strategy consistently focuses on the following objectives:
Strong Fundamentals
Cypress seeks investment opportunities with
strong fundamentals such as superior site
locations,
competitive
supply
constraints,
attractive demographics, and positive longterm growth prospects.
Value Creation
Cypress targets opportunities where it can add
value through its operating skills and expertise
in the development process, construction
management,
marketing,
disposition,
and
financial structuring.
Risk Management
Cypress invests in projects with the potential
for generating strong risk-adjusted returns. The
firm focuses on understanding both market and
project-specific risks and creating strategies to
mitigate or manage these risks.
Aligned Incentives
The principals of Cypress invest side-by-side with
their partners, and structure profit participation
such that Cypress benefits only when a project
performs well and its partners are successful. This
alignment of interests fosters an environment of
teamwork and shared goals.
I N VE S T M E N T S
MIXED-USE
Brown – Palm Beach County, FL
Denargo Market – Denver, FL
East Avenue – Austin, TX
Hardy Yards – Houston, TX
Lake Highlands – Dallas, TX
Lakeshore – Austin, TX
Raceway – Austin, TX
Stapleton Plaza – Denver, CO
Tarlton Village – Austin, TX
Town and Country – Houston, TX
Westcreek – Houston, TX
R E S I D E N T I A L ~ S I N G L E - F A M I LY
Abacoa – Jupiter, FL
Terra Mesa Portfolio – Various
Falcon Trace – Orlando, FL
Indian Shadow – Durango, CO
Julington Creek Plantation – Jacksonville, FL
Longwood Village – Houston, TX
Rock Creek – Austin, TX
Spanish Oaks – Austin, TX
Spring Trails – Houston, TX
Westover Park – Houston, TX
R E S I D E N T I A L ~ M U L T I - F A M I LY
54 Perimeter Center – Atlanta, GA
Amesbury Park – Dallas, TX
Baron-Lexington – Phoenix, AZ
Chelsea Creekside – Austin, TX
Cimarron Apartments – Denver, CO
Colinas Point Apartments – Denver, CO
Datura Street Condominiums – West Palm Beach, FL
Gleneagles – Denver, CO
Harbor Pointe – Palm Beach County, FL
Hidden Lake – Fort Worth, TX
Indian Tree Apartments – Denver, CO
Lamar and Manchaca – Austin, TX
Lincoln at Towne Square – Dallas, TX
Maverick-Ausland – Dallas, Austin, and Houston, TX
Nob Hill – Houston, TX
Philips Residential – Jacksonville, FL
Promenade Champions Forest – Houston, TX
Promenade Cullen Park – Houston, TX
Promenade at Hermann Park – Houston, TX
Promenade Jersey Village – Houston, TX
Promenade Memorial – Houston, TX
Ranch at Fossil Creek – Fort Worth, TX
Reserve at Lake Nona – Orlando, FL
Rosemont at East Cobb – Atlanta, GA
Savannah – Austin, TX
The Cambridge at Hickory Hollow – Nashville, TN
The Reserve at Lake Nona – Orlando, FL
West Avenue Lofts – Austin, TX
Westpoint – Houston, TX
Worthing Residential – Atlanta, GA
COM MERCIAL
800 West 6th Street – Austin, TX
Atwater Corporate Park – Philadelphia, PA
Cameron Road Corporate Park – Austin, TX
Churchill Building – Houston, TX
Congress Blocks 19/28 – Austin, TX
Cypress-Mexico – Mexico
Executive Plaza – Houston, TX
Hempstead Highway Distribution Center – Houston, TX
Interwood Office Park – Houston, TX
Main & Main Retail – Various
Northport Industrial Business Park – Houston, TX
Sierra at Las Colinas – Dallas, TX
The Atrium – Houston, TX
The Shops at Spanish Oaks – Austin, TX
Woodway Voss – Houston, TX
HO SPI TA L I T Y
Crowne Plaza Riverwalk – San Antonio, TX
Doubletree at Roswell – Atlanta, GA
Embassy Suites at Pittsburgh International Airport – Pittsburgh, PA
Hilton at Research Triangle – Durham, NC
Marriott Country Club Plaza – Kansas City, MO
Radisson Stapleton Plaza Hotel – Denver, CO
Sheraton Downtown – Nashville, TN
The Park Vista Resort – Gatlinburg, TN
The Wyndham Anatole Hotel – Dallas, TX
SENIOR LIVI NG
Town Village Arlington – Arlington, TX
Town Village Audubon Park – Memphis, TN
Town Village Leawood – Kansas City, KS
Town Village North – Dallas, TX
Town Village Ridgmar – Fort Worth, TX
Town Village Sterling Heights – Detroit, MI
Town Village Tulsa – Tulsa, OK
Town Village Vestavia Hills – Birmingham, AL
E A S T
AV E N U E
A u s t i n ,
T X
East Avenue is a mixed-use development at the former Concordia
University site adjacent to Interstate 35 in central Austin. Located just two
miles north of downtown Austin and less than one mile from the University
of Texas at Austin, East Avenue will be a one-of-a-kind destination for
Central Texans to live, work, shop, and dine. The 23-acre project will
include 600,000 square feet of office, 1,350 multi-family units, 300,000
square feet of retail space, and a 210-key Hyatt Andaz Hotel. Cypress is
contributing equity for the development of 200,000 square feet of office
(anchored by Texas Monthly magazine), 384 multi-family units, and
80,000 square feet of ground-floor retail. East Avenue represents a new
level of environmentally-conscious development and will help address
the needs and desires of Austin’s booming urban population.
A B A C O A
J u p i t e r ,
F L
ABACOA is a 2,050-acre mixed-use Development of Regional Impact located
in Palm Beach County, Florida. Land uses include residential, office, retail,
university campuses, Major League Baseball spring training facilities, and
a golf course.
• 6,280 single-family and multi-family
homes located in ten distinct
neighborhoods
• Town Center (70 acres) with 1.2
million square feet of retail, including
numerous stores, restaurants and a
16-screen movie theater
• Workplace District (100 acres) with 1.4
million square feet of R&D facilities
and 800,000 square feet of office and
other commercial uses
• Spring Training facilities for
the St. Louis Cardinals and the
Florida Marlins
• High-end, daily-fee 18-hole golf course
• University campuses – Florida Atlantic
University branch campus and
Honors College
• Public elementary and middle
school campuses
• 300 acres of open greenways, parks,
wildlife preserves, and nature trails
H A R D Y
YA R D S
H o u s t o n ,
T X
Hardy Yards is a 40-acre redevelopment site adjacent to Houston’s central
business district. Formerly a Union Pacific rail yard, Hardy Yards consists of
a 37-acre contiguous strip in addition to 3 acres of assembled out-parcels.
Hardy Yards presents the opportunity to develop a price-sensitive alternative
to downtown living. Furthermore, given its premier urban location and
exceptional views of the Houston skyline, Hardy Yards is a prime site for
mixed-use redevelopment.
Bordered to the south by Interstate 10, to the west by Interstate 45, and to
the east by State Highway 59, Hardy Yards has excellent access to all parts of
Houston. It also has quick and convenient access directly to the Houston CBD
via Elysian Street, Main Street, Hardy and McKee streets. Hardy Yards is just
minutes from Downtown, Midtown, the Houston Medical Center, Minute
Maid Park (home of the Houston Astros), and the Toyota Center (home of the
Houston Rockets).
Cypress Real Estate Advisors has created a land plan for Hardy Yards that allows
for development of up to 2,356 multi-family units, 95 town homes, and 66,000
square feet of retail.
P R E F E R R E D
H o u s t o n ,
C O M M U N I T I E S
T X
The PREFERRED COMMUNITIES portfolio consists of five Class-A garden-style
multi-family properties totaling 1,812 units in some of the most popular
submarkets in Houston. This investment platform was designed to acquire
well located, fundamentally sound, quality real estate suffering from weak
management, curable capital defects, and dated cosmetic elements. Each project
has been or is currently undergoing extensive exterior and interior renovations.
The physical improvements have resulted in increased market rents at each
property. The property management and the renovations are being handled by
Preferred Communities, a multifamily investment and management company
based in Houston.
• Located near the world-renowned Houston Medical Center, Promenade Hermann
Park was built in 1999 and offers 320 units. Amenities include a clubhouse, fitness
center, swimming pool, controlled access entry system and covered parking.
• Constructed in 1992 and consisting of 228 units, Promenade Memorial is located
adjacent to a multitude of employment opportunities in Houston’s Energy
Corridor and offers a clubhouse, pool, mature landscaping, fitness center, business
center and controlled access entry system.
• Situated in close proximity to the Energy Corridor, Promenade Cullen Park offers
264 units constructed in 1991 and 1996, and is a gated community with a clubhouse,
fitness center, dry sauna, two swimming pools and an attractive plaza area.
• Constructed in 1994-1995, Promenade
Jersey Village consists of 596 units
including 40 town-home units.
Community amenities include a
clubhouse, state-of-the-art fitness center,
dry sauna, three swimming pools,
heated lap pool and controlled access
entry system.
• Promenade Champions Forest is a 404unit community built in 1995. The
complex offers two resort-style pools, spa,
clubhouse, fitness center, sand volleyball
and basketball courts, access gates and
attached parking for some units.
J U L I N G T O N
C R E E K
P L A N TAT I O N
J a c k s o n v i l l e ,
F L
JULINGTON CREEK PLANTATION is a 4,150-acre mixed-use community located
in St. John’s County (Jacksonville), Florida. The community is primarily
single-family residences with approximately 6,292 units.
• 5,325 single-family residences ranging in price from
the $170s to over $1 million
• 967 multi-family residences (110 acres)
• Retail, commercial, and church uses (70 acres)
• High-end, daily-fee 18-hole golf course
• Regional county park (20 acres) and community
park (15 acres)
• Aquatic Center including a competition-sized pool,
family pool, and children’s pool, as well as basketball
and volleyball courts
• 1,500 acres of open space, reserves
and greenways
D E N A R G O
D e n v e r ,
M A R K E T
C O
DENARGO MARKET is a 29.55-acre assemblage of twenty different land parcels
on the edge of downtown Denver. Previously occupied by light industrial uses,
Denargo Market represents one of the largest remaining redevelopment sites in
the Denver CBD.
Located two blocks north of Coors Field, Denargo Market has an unparalleled
location with direct access to Interstate 25, Interstate 70 and to the peripheral
highway system E-470/C-470 that encompasses the entire Denver metropolitan
area. Residents and tenants of Denargo Market will have spectacular mountain
views as well as South Platte River frontage. The site also benefits from proximity
to LoDo, Pepsi Center, and Larimer Square. It is also located close to Confluence
Park which provides paved bike and jogging trails that follow the river.
The City of Denver has approved the General Development Plan and rezoning
for Denargo Market:
• Residential Mixed-Use (RMU-30) zoning on the entire site
• Allows height of 75 feet, with the exception of the two tracts
on the Platte River, which will be limited to 55 feet
• Approximately 2,000 to 2,500 dwelling units and
130,000 to 200,000 square feet of retail
• Office is a permitted use in the zoning (although
it is not an anticipated use at this time)
• Three blocks zoned with PUD category to
allow towers 180 feet to 220 feet in height
H O S P I TA L I T Y
Va r i o u s
L o c a t i o n s
In achieving superior risk-adjusted returns for its investors, Cypress Real
Estate Advisors seeks to capitalize on various opportunities presented by
current market conditions. Investments resulting in equity returns from a
more secured debt position include:
• The Hilton Anatole Hotel. Cypress was the mezzanine lender on this
Class-A convention hotel in Dallas that boasts 1,609 rooms and 300,000
square feet of meeting space.
• The Davidson Hotel Portfolio.
In 2001, Cypress purchased the notes
on the portfolio totaling 1,729 rooms
in five states.
• The Crowne Plaza Riverwalk.
In 2008, Cypress purchased a $26 million
note on this conference hotel in downtown
San Antonio.
C Y P R E S S-M E X I C O
Q u e r é t a r o ,
M e x i c o
In 2007, Cypress identified a team in Mexico to act as its local partner
to acquire, develop, and operate real estate in central Mexico. The
Cypress-Mexico team is comprised of Mexican nationals with strong local
relationships and a history of investing capital in Mexico on behalf of U.S.
institutional investors.
Located approximately 130 miles northwest of Mexico City, Querétaro has
been the focus of Cypress’ recent industrial acquisition and development
efforts in Mexico. Querétaro is ideally situated within two hours of
approximately 60% of the entire Mexican market, and is at the intersection
of two major distribution routes, creating the most active industrial market
in central Mexico.
Although industrial space has doubled
during the last ten years, Querétaro
has maintained healthy occupancy
rates due to the expansion of the
existing automotive and aerospace
industries and the continued presence
and growth of firms such as Kellogg’s,
Mars, and Nestlé.
S PA N I S H
A u s t i n ,
O A K S
T X
SPANISH OAKS, located approximately twenty miles west of Austin, Texas, is a
high-profile 1,100-acre, low density master planned community that includes
360 single-family home sites, 100 townhome lots, a private 18-hole golf course,
and over 200 acres dedicated to retail, commercial and multi-family uses.
• 360 single-family residences ranging in price from
the $500s to over $1 million
• 100 single-family townhomes
• 500,000 square-foot retail center, with additional
retail and commercial uses planned
• Private 18-hole golf course, recognized in 2003 by
Golf Digest as one of the five best new private golf
courses in the United States
Spanish Oaks Golf Club
L A K E
H I G H L A N D S
T O W N
C E N T E R
D a l l a s ,
T X
Lake Highlands Town Center is being developed on 69 acres of land inside
of LBJ Freeway and just east of Skillman at Walnut Hill in Dallas, Texas.
The project will be a unique, mixed-use transit oriented development with
a combination of retail and residential uses. A pedestrian-friendly “Main
Street” promenade will be lined with shopping, dining, and entertainment
venues, all of which will be accessible via convenient on-street and garage
parking. An additional proposed improvement for the project is an outdoor
amphitheater which will allow residents and visitors to enjoy concerts and
live theater performances. A new DART (Dallas Area Rapid Transit) light
rail station will be developed at the northeast corner of the site, allowing
convenient access to and from Lake Highlands Town Center.
• Public Financing – $36,000,000
• Net Developable Acreage – 40.5 acres
• Park Acreage – 20 acres
• Development Plan – 1,696 multi-family units
and 440,138 sf of retail/office
“Cypress was committed to seeking sound, creative approaches which
would be sensitive to environmental concerns… and [we] think the
project will set a new standard for developing a community which is
sensitive to the environment. The central Texas community should
be proud of this effort and we hope other landowners will strive to
achieve similar levels of environmental protection.”
David Frederick, Supervisor of the Austin office of the United States Fish and Wildlife
Service, in press release on the 2,700-acre Cypress development Rock Creek
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301 CONGRESS, SUITE 500
AUSTIN, TEXAS 78701
T E L : 512 494 8510
FA X : 512 494 8519
WWW.CYPRESS - ADVISORS.COM