The Urban Group of Companies Moves into Austin Real Estate Market

PRLog (Press Release) – Jul 25, 2008 – Austin, Tex.,   The Urban Group of Companies, through its affiliate Urban Acquisitions, LLC, has acquired the commercial office property at 9415 Burnet Road in Austin, the company has announced. The 3-story property consists of approximately 30,000 square foot mixed-use retail and office space, and is located in proximity to three major highways.

“The Urban Group of Companies is excited to enter the Austin market,” said Scott Chaplan, Chairman of the Urban Group of Companies. “Austin is one of the great cities in America. Our mission of acquiring and enhancing sustainable mixed-use urban developments comports with Austin’s, and especially the North Burnet/Gateway 2035 Master Plan. We look forward to significantly more activity in this market.”

The Burnet Road property is located near the crossroads of Interstate 35, Highway 183 (Research Boulevard) and Highway 1 (MoPac). This location gives tenants, customers and workers easy access from the highly publicized Domain development, and the Austin Central Business District. The property is within the North Burnet Redevelopment Zone, which seeks to attract density, sustainable design and transit-oriented developments such as the Burnet Road property. “We intend to significantly expand our presence here in the coming months,” says Chaplan.

About the Urban Group of Companies
The Urban Group of Companies is a full service real estate development, management, investment banking, finance and consulting group focused on opportunities within the urban core. The Urban Group owns and manages over 1,000 units of affordable housing, mixed-use and office space in over 40 projects in six states, and employs a staff of 104 professionals. Affiliates include Urban Development & Finance, LLC, a triple bottom line real estate development and finance firm; Urban Eco-Housing, a developer of sustainable rental housing, and Urban Housing, a property management firm. For more information, please visit www.UrbanDF.com, or contact Norris Lozano -  norris@UrbanDF.com, or Scott Chaplan - scott@theurbanholdings.com.