Accion Texas Inc. celebrates five-month lending record

Accion logo colorAccion Texas Inc. – a nonprofit multi-state micro and small business lender with the nation’s largest microloan portfolio – has surpassed $2 million in loans for the fifth consecutive month.

This is the first time the organization has achieved these figures for five months in a year.

In August, the company disbursed 149 small business loans totaling $2.4 million – nearly $1 million over August 2013, when Accion Texas closed out the month with 117 loans totaling $1.5 million.

The latest figures come on the heels of $2.3 million in April, $2.4 million in May and $2.5 million for June and July, respectively.

In addition to the five-month milestone, Accion Texas Chief Lending Officer Dan Lawless said that two of Accion Texas’s markets achieved their highest monthly numbers ever last month.   Houston, where Accion has operated since 1998, disbursed nearly $450,000 in loans in August and Memphis, Tennessee, where Accion opened in 2012, loaned nearly $100,000.

“These phenomenal numbers reflect both the improving economy and also the fact that more banks and small business owners are becoming aware of Accion Texas and its services,” Lawless said. “Our mission is to provide entrepreneurs with the capital, education and technical assistance they need to start, sustain and grow their small businesses when they may not have access to traditional sources of capital and assistance.  Achieving this level of lending over the past five months confirms that there is a real need for what we offer, that the economy is turning around, and that we are making a positive difference in the many communities we serve.”

Accion Texas President and CEO Janie Barrera said that Accion Texas helps entrepreneurs achieve their dreams.

“We believe in our small businesses and entrepreneurs,” she said. “These are the people who are helping to fuel our economy and strengthen our communities. These impressive results demonstrate that we are reaching more entrepreneurs who, in turn, are realizing their dreams and serving as examples to other aspiring small business owners that they can also achieve success.”

About Accion Texas
Accion Texas Inc. is a nonprofit, multi-state microlending company and small business lender that helps new and existing entrepreneurs successfully grow their businesses. Through affordable lending and business development services, Accion Texas is committed to empowering diverse individuals and small businesses that have limited access to traditional sources of capital. Since its founding in San Antonio in 1994, Accion has made more than 14,000 loans totaling more than $167 million.  Accion now operates in eight states: Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas. To learn more about Accion’s lending options, call 888-215-2373 or visit www.acciontexas.org.

Crimson Real Estate Fund and USAA Real Estate Company Announce Build-To-Suit For TGS

usaa logocrimsonCrimson Real Estate Fund, L.P. (CREF), and its co-investment partner, USAA Real Estate Company, have acquired eight acres of land in west Houston to build a new headquarters for TGS-Nopec Geophysical Company (TGS). At approximately 97,500 rentable square feet, the 3-story office building and 408 surface parking spaces will be built on Clay Road, near Beltway 8.

The proposed building will be TGS’ North American headquarters. This new facility is designed to meet TGS requirements and will allow for future growth. The Project will be leased in its entirety to TGS.

Patrinely Group, LLC, the development management affiliate of CREF, will develop the building. Crimson Services, LLC, also a related entity to CREF, will provide on-site property management. Jon Silberman of NAI Houston represented the tenant and Dennis Tarro of Crimson Services, LLC represented the landlord in the transaction.

Crimson Real Estate Fund, a real estate opportunity fund, is managed by Crimson Real Estate Advisors, L.P., based in Houston.  USAA Real Estate Company is the largest single investor in CREF and also co-invests alongside CREF, which serves as the sponsor/operating partner. CREF, in addition to funding BTS office and multifamily developments around the country, acquires and repositions real estate opportunities in key growth markets across the United States.

About Crimson Real Estate Advisors, LP
Crimson and its affiliates have acquired and developed assets valued in excess of $3 billion over the past 25 years. For more information, visit www.crimsonrealestateadvisors.com.

About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.  The USAA portfolio consists of office, industrial, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.

About Patrinely Group, LLC
Patrinely Group, an affiliate of Crimson Real Estate Fund, is as a national real estate development firm specializing in commercial office and residential projects throughout the United States. For more information, visit www.patrinelygroup.com

About Crimson Services, LLC
Crimson Services, LLC provides property management and leasing services to real estate owners and users. Crimson currently manages approximately 3 million square feet of Class A office space throughout the United States. For more information, visit www.crimsonservicesllc.com

Wells Fargo Donates $300,000 to Accion Texas

From left: Marianne Watson, senior vice president of Wells Fargo in San Antonio and Accion Texas board member; Janie Barrera, Accion Texas president and CEO; Steve Arnold, Wells Fargo area president for the San Antonio market; and Jennifer Moriarty, Wells Fargo vice president of community development.

Accion Texas Inc. – which manages the nation’s largest microloan portfolio – has received a $300,000 grant from Wells Fargo to create a small business incubator at the nonprofit organization’s future two-acre campus on the city’s West Side.

Earlier this year, Accion announced a $5.5 million capital campaign to build a new Lending and Learning Entrepreneurial Center.  The Wells Fargo grant is earmarked for that campaign and will fund a free-standing 2,000-square-foot Wells Fargo Small Business Incubator on the new campus.  The incubator will help entrepreneurs start, sustain and grow new enterprises throughout San Antonio and South Texas.

“We are honored and delighted to receive this generous gift from Wells Fargo,” said Accion Texas President and CEO Janie Barrera.  “Not only does it bring us closer to our capital campaign goal, it is a vote of confidence in our work and mission – and it demonstrates our shared commitment to creating a nurturing environment for small businesses to obtain the tools they need to succeed.  The new incubator will substantially expand our outreach.”

Steve Arnold, Wells Fargo area president for the San Antonio market, said the gift celebrates the company’s ongoing partnership with Accion.  “We have worked with Accion since the first day it opened its doors in 1994 as board member, funder and as a referral partner. Our missions are very much the same.

We strongly believe in helping small businesses and entrepreneurs realize their dreams,” Arnold added.  “Financial success takes hard work and vision.  This new incubator will provide hands-on experience and training for men and women who have the desire to create their own businesses and to build a better future for themselves and their families.  This is economic development at the grassroots level and it will translate to a stronger, more vibrant San Antonio community.”

Accion’s $5.5 million capital campaign, “We Believe,” was publicly announced on June 15.  More than half of the goal has been raised to date.

The Accion Lending and Learning Entrepreneurial Center – to be located on a two-acre site at 2015 W. Martin Street in the historic Prospect Hill area — will consolidate the organization’s San Antonio operations under one roof, creating a “one stop” location for small business lending, education, technical assistance, training and support.

“Our new campus will allow us to better serve San Antonio, the state of Texas and some of the most economically challenged areas of the country,” Barrera said.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (www.wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States.  Wells Fargo & Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About Accion Texas Inc.
Established in 1994 in San Antonio, Accion Texas Inc.’s financial and business-support services help entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment and contribute to the economic revitalization of their communities. Accion has the nation’s largest microlender portfolio and is committed to providing capital to entrepreneurs who do not have access to loans from commercial sources. Since its inception, Accion has made nearly 13,000 loans totaling more than $130 million. Accion now operates in eight states – Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, Tennessee and Texas.    For more information, visit www.acciontexas.org.

Crimson Real Estate Fund and USAA Real Estate Company Acquire Urban Infill Land in Manhattan

Crimson Real Estate Fund, L.P. (CREF), and its co-investment partner, USAA Real Estate Company, have acquired an urban infill multifamily development site in New York.  Patrinely Group, an affiliate of CREF, will co-develop the property along with DHA Capital LLC, a New York-based real estate development firm.

The 0.634 acre site is located at 546 W. 44th Street on Manhattan’s west side. The proposed project will have 298 units of market rate (80 percent) and affordable (20 percent) housing in addition to a full complement of amenities. The two-building project is slated to begin construction in the first quarter of 2014.

Crimson Real Estate Fund, a real estate opportunity fund, is managed by Crimson Real Estate Advisors, L.P., based in Houston.  USAA Real Estate Company is the largest single investor in CREF and also co-invests alongside CREF, which serves as the sponsor/operating partner. CREF acquires and repositions real estate opportunities in key growth markets across the United States.

“We are pleased to be entering the market with a well-located site with USAA and working with DHA Capital, whose principal Dan Hollander is experienced in developing Class A multifamily properties in Manhattan,” said Dean Patrinely, managing principal of Crimson Real Estate Advisors.

About Crimson Real Estate Advisors, LP
Crimson and its affiliates have acquired and developed assets valued in excess of $3 billion over the past 25 years. For more information, visit www.crimsonrealestateadvisors.com.

About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.  The USAA portfolio consists of office, industrial, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.

About Patrinely Group, LLC
Patrinely Group, an affiliate of Crimson Real Estate Fund, is as a national real estate development firm specializing in commercial office and residential projects throughout the United States. Finding innovative solutions for our clients has been at the heart of the Patrinely Group experience for 30 years.

About DHA Capital
DHA Capital LLC is a New York-based real estate development and investment firm.  DHA focuses on the development of high-quality urban infill real estate projects. The firm offers its partners and clients a long history of hands-on real estate experience covering multiple asset types.  DHA Principals have successfully developed $2.5 billion in residential mixed-use development and have a combined 30-year track record of successful projects.