Closed Transactions

A long-time developer client of Patrick Graham had acquired a total of 3.424 acres on Highway 281 North in San Antonio. The client had a use to develop about 1.658 acres of that tract. The remainder of 1.766 acres was no longer needed, and the expense of developing the site including extensive sitework and delivery of utilities along a heavily congested highway like 281 North was an expensive endeavor. Patrick worked with the client, who had secured a buyer for the excess, and facilitated the permitting and entitlements needed to develop the tract. This established the value for the sale of the remainder. By building value in developing the entitlements and infrastructure, the excess land sale reduced the overall basis of the retained land. This lowered basis increased the return on the development of the 1.658 acre tract.