During the 1990s, Kip Lewis developed 2 RV/MH communities, one in Georgetown and one in Pflugerville, Texas. Lewis bought the raw land and entitled the properties to allow for over 800 Mobile Sites to be constructed. Upon receiving approval, Lewis sold the sites to the largest Mobile Home Park REIT in the United States.
Five years after launching Lewis Investments, Kip Lewis decided to purchase a historic office property on Main Street in Round Rock. City leadership had declared the downtown area of Round Rock a historical development area, and this factor appealed to Lewis when selecting office space.
Shortly after settling into his office, Lewis became President of the Round Rock Downtown Business Owners Association. In this role, he met regularly with other business owners as well as engineers and architects to propose and implement restoration efforts in Round Rock. The city’s leadership accepted many of these ideas for revitalization that still stand today.
Kip Lewis purchased property at 118 Main Street in 1999 and developed it into Main Street Grill Restaurant. The upscale dining restaurant remained open until 2017, hosting many high-profile business professionals during its 18-year run. Lewis has purchased and renovated 45,000 square feet of retail, hospitality, residential, industrial, and office space in downtown Round Rock and was instrumental in the revitalization of Historic Round Rock.
Kip Lewis Lewis founded Lewis Investments in 1992. The business will soon celebrate its 30th anniversary. One thing that has remained consistent after all these years is the commitment that Lewis Investments makes to building relationships with a large community of professionals based on mutual respect and trust. The company only hires contractors willing to commit to the highest building standards in the construction industry. The company feels this is the best way to preserve long-term investments that it will eventually sell to clients.
The ongoing success of Lewis Investments has allowed the company to pursue and support community initiatives. Kip Lewis and his staff currently focus on contributing resources to aid with the homelessness problem in Central Texas.
On January 21, 2021, Lewis Investments reached a deal with JLL for a $17 million dollar transaction to refinance the mortgage on three of its core properties. JLL is a Fortune 500 Company and well-known for providing professional financial services. The refinancing transaction enables Lewis Investments to receive a non-recourse loan with a fixed rate of interest over the next 10 years. Another benefit of the transaction for Lewis Investments was the ability to secure a T-bill with an annual percentage rate of 2.77 percent, a historic low.
The refinancing deal between JLL and Lewis Investments was already in the works before the coronavirus pandemic began in March 2020. The two companies had to halt the deal due to the upheaval the pandemic wrought on American credit markets. Because of the delay, the refinancing team with JLL had more time to find a better alternative for Lewis Investments. Upon securing the deal, Lewis Investments refinanced its notes on three RV/MH communities.
Kip Lewis and his employees are grateful for the recent refinancing opportunity and look forward to continuing to serve the real estate investment communities in Austin, Round Rock, and other areas of Central Texas.