StoryBuilt receiver pins company’s failure on former execs in lawsuit

After weeks of foreshadowing, StoryBuilt’s receiver has sued the failed developer’s former top executives.  In his suit, Stapleton Group managing director Mike Bergthold details a laundry list of alleged misconduct by former CEO Anthony Siela, former CFO Ryan Diepenbrock and former COO Chad Shepler. Bergthold claims the executives “severely mismanaged” the company and some of […]

The post StoryBuilt receiver pins company’s failure on former execs in lawsuit appeared first on The Real Deal.

Austin rents nosedive 12.5% in December

Apartment demand cooled considerably in Austin last year, leaving multifamily landlords with no choice but to lower rents.  Average monthly rent plummeted by 12.5 percent year-over-year in December, marking the second-largest yearly decline among major U.S. metros, the Austin American-Statesman reported, citing a study by Rent.com. The average fell to $1,985 in December, down from […]

The post Austin rents nosedive 12.5% in December appeared first on The Real Deal.

Skybox, Prologis moving ahead on massive Pflugerville data centers

Prologis and Skybox are moving ahead with their major data center projects outside of Austin. An entity called Austin Data Center 2 LLC filed to build out $60 million in improvements for a data center at 2515 South Kenney Fort Boulevard in Pflugerville. The LLC shares a business address with Prologis, and along with a […]

The post Skybox, Prologis moving ahead on massive Pflugerville data centers appeared first on The Real Deal.

StoryBuilt receiver accuses principals of “egregious mismanagement”

The sudden collapse of Austin-based developer StoryBuilt last summer left many wondering how such a promising company could unravel so quickly. Now, as a receiver works to salvage what remains of the company’s assets, some of the errors that led to StoryBuilt’s downfall — and who could be held responsible for them — are coming to light.  […]

The post StoryBuilt receiver accuses principals of “egregious mismanagement” appeared first on The Real Deal.

NAR copycat lawsuit adds Texas targets

The Texas lawsuit contesting “buyer broker commissions” has expanded to include antitrust accusations against more agent associations. Lawyers filed an expanded lawsuit in a copycat of the landmark Sitzer/Burnett case, which resulted in a $1.8 billion verdict against the National Association of Realtors, Keller Williams and HomeServices of America, in Missouri on Oct. 31.  The […]

The post NAR copycat lawsuit adds Texas targets appeared first on The Real Deal.

StoryBuilt receiver met with FBI, SEC 

When Austin-based developer StoryBuilt collapsed this summer, it left many wondering how the fast-growing builder had fallen so fast. It looks like government agencies are wondering the same thing.  In a report detailing its recent activity, the Stapleton Group, which is now in charge of StoryBuilt’s estate, said it has been cooperating with authorities from […]

The post StoryBuilt receiver met with FBI, SEC  appeared first on The Real Deal.