11/16/2023 0 Comments Pmetro psc ran out of houston numbers![]() The building is positioned to take advantage of solar tax credits and create value from electricity generation.įinancing for the project was secured by Tina Poindexter, SVP of Veritex Community Bank. In addition to the tokenization case-study, Metrospaces plans to utilize this and other hard assets to explore further PropTech initiatives, including state of the art IoT improvements including building management tools, security system and blockchain integration. We believe that this, added to tokenizing third-party assets as a service, will revolutionize real estate capital markets.” “We want to be right in the middle of that industry. “There will clearly be some very exciting opportunities for arbitrage between the private real estate market and the market driven by tokenization,” Brito said. The acquisition is a part of Metrospaces’ strategic plan to secure assets with high liquidity positions in high growth markets such as Texas and Florida. “We believe once our platform is fully launched, we can not only provide exceptional liquidity opportunities for third-party clients, but we will also be able to utilize the platform as principals, bringing additional liquidity to the Metrospaces balance sheet as we continue to acquire and improve commercial assets,” said Brito. Metrospaces CEO Oscar Brito and Laplana see exceptional growth opportunities through the tokenization platform. The tokenization platform is expected to launch later this year. “The Brazos Atrium project is an exciting potential case-study for the tokenization platform we’ve designed for Metrospaces,” explained Shokworks CEO Alejandro Laplana. Additionally, the acquisition will turn Metrospaces EBITDA-positive. The building was acquired at a 12% capitalization rate and represents significant potential upside due to the possibility to adjust rentroll to market-level rates. Located in a burgeoning area of Houston adjacent to Spring at 3303 FM 1960, the Brazos Atrium building is a Class-B space with a current occupancy rate of approximately 99%, made up predominantly of small businesses and nonprofits. (OTC: MSPC), a PropTech company powered by Shokworks, has acquired a 50.6% equity stake in a 60,295 square-foot Houston, Texas, office building as a component in the company’s plans to revolutionize tokenized real estate opportunities through its new blockchain-fueled platform. METRO has maintained park and ride service to the Texas Medical Center since the start of the pandemic and those routes won't be affected.NEW YORK-( BUSINESS WIRE)- Metrospaces, Inc. In that case they'd be waiting until 6 o’clock." "The one 5 o'clock bus would leave at 5 o’clock, and speakers noted they would not have time to even get to the bus stop. "People I think very properly noted that that was going to make it very difficult in their lives," said Robinson. ![]() ![]() Robinson said in response to those concerns, there will be two downtown park and ride buses per hour with a third on standby if needed. "The changes that have been proposed I think move us a long way toward meeting the demand for service as it exists today and also helps us to deal with our budget issues," said METRO board member Jim Robinson.Īt a public hearing earlier this month on the proposed service changes, public speakers were concerned about staff recommendations to reduce downtown park and ride service to one bus an hour. Service on some routes will be restored to pre-COVID levels to help promote social distancing, while others will see reduced service due to a drop in the number of riders. In January, some new service changes will go into effect that reflect current ridership patterns, the agency said. Along with lower fare revenues, sales tax collections are also down - operations are funded by a one-cent sales tax collected in Harris County. With more people working from home and others out of a job, METRO has seen a big drop in ridership since the start of the COVID-19 pandemic. METRO board members on Thursday voted to enact service changes for the new year in response to a coronavirus-related shift in travel patterns. Gail Delaughter Park and Ride buses mix with local buses near the Downtown Transit Center ![]()
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