Beginning in 1995, Day Cable, along with Joe Simmons, created limited partnerships in an effort to capitalize on the purchase opportunities in the commercial real estate market throughout the State of Texas.  Since that time, these partnerships have purchased seven properties ranging from multi-tenant and single tenant office buildings to raw land.  Our purchases have ranged in price from $500,000.00  to 2.3 million dollars. 

When making a commercial real estate purchase, we have based our decisions primarily on a certain set of criteria.  This criteria includes but is not limited to: 1) low per square foot prices, 2) knowledge of market trends and growth patterns, 3) property is under valued due to lack of “hands on” management and leasing functions, as well as 4) the need to improve appearance and functionality. Purchases have been made under limited partnership agreements, involving a combination of investors who are business associates, family members, and friends. In all partnership agreements, Day Cable and Joe Simmons have invested their personal funds in addition to serving as general partners.  

The intent of these partnerships is not only to create value within the property, but also to return equity and/or profit either through cash flow, refinancing, or sales. Our emphasis is placed upon ensuring that the investment is sound and is working in the shortest time frame possible. Partnership structures are designed to return equity and preferred returns before any other profits are distributed.  The majority of the limited partners have remained the same since the beginning of our venture. We intend to continue purchasing commercial properties when and if sound opportunities arise.

Outlined below is summary of our recent purchases, including bank references and seller contact information. 

Banking Reference:    

Larry Hammonds
Senior Vice President
Frost National Bank
234 North Guadalupe
San Marcos, Texas 78666
(512) 393-5623


Purchase References:

General Partners

Day Cable
 

Since 1992, Day Cable has owned and operated The Day Cable Company, a real estate company specializing in management and leasing of commercial properties.  Currently, Mr. Cable represents six area office and retail properties.  Prior and present clients include Lumbermen’s Investment Corporation, First Interstate Bank, ERISA Administrative Services, as well as Wells Fargo Bank.

Prior to forming his own business, Mr. Cable was Vice President in charge of the Austin operations for Fuller Commercial Services – a statewide real estate company.  In this capacity, he performed the management and leasing functions for over 1,000,000 square feet of Austin area properties. 

Before entering commercial real estate, Mr. Cable was a member of former US Senator Lloyd Bentsen’s staff and served as the former Executive Assistant to Railroad Commissioner Arthur “Buddy” Temple III.  Day and his family currently reside in Lakeway, Texas.  Day has been actively managing and leasing Austin area commercial properties since 1983.  He holds a B.S. in Advertising from the University of Texas Austin.

Joseph B. Simmons

Mr. Simmons is currently “Of Counsel” to the law firm DuBois, Bryant, Campbell & Schwartz, L.L.P.  He is also President of Austin Office Consultants, Inc. a company specializing in commercial leasing and acquisitions. 

            Prior to his current positions, Mr. Simmons was Regional Director of Prentiss Properties in their Austin office.  His responsibilities included procuring new office development, leasing, and tenant representation.  During his tenure, Prentiss became one of the largest office developers/owners in Austin, Texas.  Before being recruited to Prentiss Properties, Mr. Simmons was one of the founding principals of Blake Realty Advisors, Inc.  Formed in 1992, the company specialized in tenant representation and sales and became one of the premier tenant representation firms in Austin.  He has been involved in leasing millions of square feet of space and has been general partner in numerous real estate limited partnerships.  He was also an attorney with the firm of Andrews and Kurth LLP. 

            Mr. Simmons belongs to the Texas State Bar Association, the Travis County Bar Association, and was a past member of the College of the State Bar of Texas.  In addition, he is a member of the Real Estate Council and the Commercial Leasing Brokers Association.

            Mr. Simmons obtained his undergraduate degree in accounting with honors from the University of Texas at Austin.  He obtained his JD from Baylor University School of Law.  Joe and his family reside in central Austin.