Angel/McIver and IBC Bank Close Deal on 104-Acre Six Flags AstroWorld Site
02 6월 2006 - 6:04AM
Business Wire
Angel/McIver Interests, L.P. (www.angelmciver.com) and
International Bank of Commerce (IBC Bank)-Houston (NASDAQ:IBOC),
announced today the closing on the widely followed 104-acre former
Six Flags AstroWorld site. Angel/McIver acquired the coveted
Houston landmark property for an undisclosed amount. The deal,
which closed per the terms of the agreement, is one of the largest
land purchases made by Angel/McIver, as well as a significant
transaction for IBC-Houston. David Cook, along with the Cushman
& Wakefield brokerage team of Jeff Peden, Marshall Davidson and
Graham Horton, as well as the Staubach Group, represented Six Flags
in the marketing of the former AstroWorld site. Cook commented, "In
retrospect, Angel/McIver Interests was the best purchaser for the
site. We had offers from foreign buyers, institutional investors,
major developers and large institutions. Ultimately, Angel/McIver
Interests' vision was a superior fit for the strategically located
104 acres." "It was a pleasure to deal with Six Flags and IBC Bank
on this deal," Michael McIver, Angel/McIver Partner and President
said. "It was a smooth process, and we are looking forward to
exploring multi-use development opportunities that will be
beneficial to the community." The expansive site, which borders
Highway 610, Highway 59, Kirby Drive and Fannin Drive, is one of
the largest metropolitan land acquisitions in recent Houston
history. "Our customers made a bold play," Jay Rogers, IBC-Houston
President and CEO said. "They did everything that they said they
would do, and I am pleased that we were able to help them complete
the acquisition within the parameters set forth by the agreement."
The city of Houston and its residents are eagerly waiting to see
what developments the site will house in the future; however, no
additional plans for the development of the property have been
announced at this time. Angel-McIver Interests, L.P. specializes in
land acquisitions, land sales and joint venture developments,
providing a full-service operation in down home Texas style.
Started in the mid-1990s and based in Conroe, Texas, the company
has fostered a range of growth and economic development in and
around the Houston area with their diverse projects,
forward-thinking strategy and unmatched vision for development.
IBC-Houston is a member of International Bancshares Corporation
(NASDAQ:IBOC), a $10.5 billion financial holding company
headquartered in Laredo, Texas with more than 200 facilities and
330 ATMs serving more than 90 communities in Texas and Oklahoma.
For more information, visit www.ibc.com.
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