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Beginning in 1995, Day Cable and Joe Simmons created limited partnerships to capitalize on the commercial real estate purchase opportunities throughout the Texas market. Since then, these partnerships have purchased fourteen properties ranging from multi-tenant and single-tenant office buildings to raw land. The purchases have ranged in price from $500,000 to $2.3M.

 

Our decision to purchase commercial real estate is based on our curated criteria set.

This criterion includes, but is not limited to:

 

• Low per-square-foot prices

• Knowledge of market trends and growth patterns

• Property is undervalued due to a lack of “hands-on” management and leasing functions, as well as 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 a summary of our recent purchases, including bank references and seller contact information.

 

 

 

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BANKING REFERENCE

 

Larry Hammonds
Senior Vice President – Frost National Bank
234 N. Guadalupe San Marcos, TX 78666
(512) 393-5623

 

 

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PURCHASE REFERENCES

 

Description: 47,000 square foot 6-story bank building
Location: 823 E. Levee Street, Brownsville, TX
Seller and Contact: Riverpointe LTD – Mr. Ross Cummings – (512) 459-7100

 

Description: 30,000 square foot building as well as 9 acres of land
Location: 220 Foremost Dr, Austin, TX
Seller and Contact: Prentiss Properties, REIT – Mr. Ralph Bistlin – (512) 306-1994

 

Description: 7,000 square foot bank building as well as 6 acres of land
Location: 527 E. Commerce Street, Fairfield, TX
Seller and Contact: Riverpointe LTD – Mr. Ross Cummings – (512) 459-7100

 

Description: 25,000 square foot retail and office building
Location: 8940 Research Boulevard, Austin, TX
Seller and Contact: Dill Family Trust – Ken Baines – (512) 891-0034

 

Description: 20,000 square foot warehouse
Location: S. Congress Avenue, Austin, TX
Seller and Contact: Quinlan Acquisitions, Inc. – Mr. Joe Merritt  – (214) 692-5060

 

 

 

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GENERAL PARTNERS

 

Day Cable

The Day Cable Company, now Cable Partners, was formed in 1992 to provide specialized leasing, management, and purchase of commercial properties. Prior to forming his own company, Cable was Vice President of Fuller Commercial Properties, a regional real estate company. For the last 23 years, Cable has been involved in 1,000+ lease transactions, management of over 2.5M square feet of commercial space, and the purchase/sale of office, retail, and industrial properties. Before entering commercial real estate, Cable was a member of the late United States Senator Lloyd Bentsen’s staff and served as executive assistant to former Railroad Commissioner Arthur “Buddy” Temple. Cable and his family have resided in Lakeway, Texas since 1995.

 

Joseph B. Simmons
Joe Simmons is an independent commercial real estate professional. Prior to his current positions, Simmons was Regional Director of Prentiss Properties at their Austin, Texas office. His responsibilities included procuring new office development, leasing, and tenant representation. During his tenure, Prentiss Properties became one of the largest office developers/owners in Austin. Before being recruited to Prentiss Properties, Simmons was a founding principal of Blake Realty Advisors, Inc. Formed in 1992, the company specialized in tenant representation and sales as one of the premier tenant representation firms in Austin. Simmons was involved in leasing millions of square feet of space and has been a general partner in numerous real estate limited partnerships.

 

Simmons was also an attorney with the firm of Andrews and Kurth LLP. He currently 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. Simmons obtained his undergraduate degree in accounting with honors from the University of Texas at Austin and his JD from Baylor University School of Law. He and his family reside in central Austin.