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CONCOURSE DEVELOPMENT MERGES WITH MAQUINA HOLDINGS U.S. TO BECOME PRIVATELY HELD REAL ESTATE INVESTMENT AND DEVELOPMENT DYNAMO, ‘EMBER’

DEEPLY ENTRENCHED LOCAL LAND DEVELOPER AND U.S. HOLDING COMPANY WITH EXTENSIVE INDUSTRIAL AND COMMERCIAL PORTFOLIO JOIN FORCES, CREATING A REGIONAL REAL ESTATE POWERHOUSE

HOUSTON, TX – October 4, 2023

Concourse Development LLC – a privately held real estate company specializing in land assembly, community design and residential development – today announced it recently merged with the U.S. sister company to international real estate investment and development firm Maquina Holdings; the two companies are now operating under the moniker of Ember.

 

The combined entity will leverage the deep-rooted expertise of Concourse co-founders Harry Masterson and Jordan Mackin large-scale land development with the successful track record of Maquina President & CEO Vicente Rangel in industrial, infrastructure, commercial and luxury residential projects to create a multi-platform real estate titan under the leadership of managing principals Masterson, Mack and Rangel.  

 

The seed for the newly formed company was first planted after Rangel relocated from Mexico to Houston in 2012 to launch a U.S.-based sister consortium to Maquina, which builds single-family middle income houses throughout Mexico in addition to developing and operating infrastructure projects like toll roads and industrial parks, including the 5,000-acre World Trade Center San Luis Potosi – Mexico’s only fully integrated industrial park – among other assets. 

 

Relocating stateside to expand on his extensive real estate portfolio and to capitalize on Houston’s stable real estate market, Rangel and his wife moved into the 16-story luxury high-rise Highland Tower – an award-winning luxury high rise developed by Pelican Builders and designed by Zeigler Cooper Architects – where he soon met Robert Bland, the visionary who built his new Houston home and a pioneer in the city’s vertical living movement.

 

Rangel and Bland quickly developed a reciprocal working relationship, which led to Rangel ultimately becoming an equity partner in a Bland-led residential community in Sugar Land. This initial commitment was followed in rapid succession by additional Pelican projects, including Bancroft Place, a Highland Village-area townhome development; The Wilshire, a 17-story luxury high-rise adjacent to River Oaks District; The Revere, a nine-story boutique mid-rise designed with River Oaks empty-nesters in mind; The Hawthorne, a 17-story high-rise that is marching steadily toward completion in Tanglewood; and The Lexington, a luxury mid-rise that is soon to break ground in River Oaks.

 

Upon further collaboration with mutual consultants that overlapped between Maquina and Pelican – and with personal validation from Mr. Bland – Rangel met Concourse Development co-founder Harry Masterson – an accomplished land expert who had emerged as a Municipal Utility District [MUD] authority in Texas. The introduction proved to be prescient as Rangel ultimately became an equity partner in several large-scale Concourse projects, including The Grand Prairie – a recently announced 1,730-acre master planned community in the fast-growing northwest submarket of Hockley, Texas – that will roll out its Model Home Court with building partners Perry Homes, Westin Homes, Village Builders, Sitterle Homes and David Weekley Homes in early 2024. 

“Our goal in establishing Ember is to become the premier privately owned real estate firm in Houston by delivering best-in-class projects across the board,” Masterson noted. He added, “Vicente’s extensive background in building out massive industrial projects in Mexico combined with his expertise in financing residential towers presented an opportunity to harness our collective talents under one roof, which made complete sense once we established a working relationship.The merging of our assets, operations, human capital and industry experience gives us incredible growth opportunities.”

 

Ember now enters the proverbial statewide real estate fray well positioned to become a major industry player with far-reaching tentacles. In addition to acting as the equity partner and asset managager on luxury condominium projects such as The Hawthorne and The Lexington, the newly formed company is on the precipice of announcing new multifamily and industrial projects both within and beyond the Lone Star State. 

 
“The partnership between Harry, Jordan and myself started after realizing how symbiotic the relationship was proving to be,” Rangel noted. He added, “Nothing in the equation was forced, and we remained steadfast in letting this play out naturally because each of us understood that we needed to see how we functioned during periods of adversity. Once we recognized that we had the resolve to push through difficult times and eventually prevail despite major obstacles we’ve encountered along the way, we knew twe had the right recipe for the creation of Ember.”
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About EMBER Real Estate Investment & Development

Founded by Harry Masterson, Jordan Mack and Vicente Rangel, EMBER is a private real estate investment and development firm specializing in land acquisition and delivery of master-planned communities, industrial, and select residential projects. Its vision and relationships continually generate direct off-market opportunities, and its long-term focus allows for compounded value creation. EMBER’s leaders are land experts with the technical expertise and creativity to solve challenging problems. The company additionally partners with exceptional founders and operators on best-in-class projects. In addition to providing capital and network access, EMBER offers a platform for growth and stability through long-term vision, business administration and compliance. The business prides itself on being nimble, patient and willing to take smart risks. EMBER is intellectually rigorous and honest and strives to keep things simple and straightforward while always aligning its interests with the interests of its stakeholders. 

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