Texas-based multifamily investor Lurin Capital is facing a $40.5 million debt default lawsuit, four months after losing 12 Florida properties to foreclosure. The lender, Select Securities Europe, claims the company defaulted when it stopped paying interest on 15 loans two years ago. These loans matured last year, and as of last month, Lurin owed $10.7 million in interest.
Jon and Ashley Venetos, co-founders of Lurin Capital, personally guaranteed the loans. This means they could be held responsible for the debt if their firm cannot pay.
Earlier this year, Acore Capital Mortgage foreclosed on $383.6 million in loans tied to 12 of Lurin’s Florida properties and auctioned them off. The company also faces the potential loss of the Estates at Avenstar in Houston—a 592-unit property—after defaulting on a $52.5 million mortgage from Nexstar.
In other Texas real estate news this week, a new law aimed at reforming “traveling” housing finance corporations in affordable housing deals has been challenged in court. The Texas Workforce Housing Coalition filed a lawsuit arguing that House Bill 21 retroactively imposes stricter standards on existing agreements and puts current tax exemptions at risk before the law takes effect in 2027. Supporters say HB 21 is necessary to prevent abuse of tax exemptions, while critics argue it overreaches and undermines local control.
Ares Real Estate acquired 1.6 million square feet of warehouse space across Tarrant County—including Arlington, Fort Worth, and Northlake—as part of its expansion into high-demand logistics markets.
A recent ban by Texas lawmakers on certain foreign buyers has led to decreased Chinese homebuying activity in the state. The law targets non-U.S.-resident buyers from countries considered security threats—including China—and has caused concern among legal residents.
Austin continues to experience high office sublease availability, including Meta’s full-building offering for Sixth and Guadalupe.
Additionally, Austin broker Katie Jackson of @properties Lone Star featured an unusual listing—the Bouldin Treehouse at 801 Post Oak Street—on HGTV’s “Zillow Gone Wild.” The property is listed for $1.6 million as a redevelopment opportunity.
