Koontz Corporation was originally founded as Koontz McCombs, Ltd. in 1997 as a partnership between Bart Koontz and B.J. “Red” McCombs. From its inception to the present, the Company’s primary business focus has been on the development of new commercial real estate projects throughout Texas. In the early years, the Company’s development emphasis was on Class “A” suburban office properties. In 1999, the Company delivered its first project, One Twin Oaks, a two story, 100,000 square foot office building located in San Antonio, Texas. This project was followed shortly thereafter with a comparable second phase known as Two Twin Oaks. In the ensuing years the Company developed numerous other office and medical office properties is the San Antonio, Houston, and Austin markets totaling over 1 million square feet.
In 2000, the partners founded Koontz McCombs Construction, Ltd., now Koontz Construction, Inc., to provide pre-construction, construction management, and general contracting services for all of the Company’s development projects. Over the years, Koontz Construction grew and expanded its client base to include numerous public and private third-party clients. In 2012, Koontz Construction was recognized as the 4th largest general contractor in San Antonio with annual revenues in excess of $100 million.
In 2002, the Company turned its development sights towards residential properties, forming of a new multi-family development division. Las Ventanas, a 376 unit, garden apartment community located in Houston, Texas, was the Company’s first multi-family project, completed and sold in 2004. Since then the Company has been very active in the multi-family segment, having completed some 4,500 units and 18 projects to date.
In 2015, pursuant to the Company’s strategic succession plan, Mr. Koontz purchased Mr. McCombs’ interest in both the development and construction companies and rebranded the combined companies as Koontz Corporation. The new ownership structure provided the Company the ability to enter into new joint venture opportunities with diverse capital sources and pursue development projects in new markets and different product types.
In 2016, in a move to concentrate more effort on its core development business, Koontz Corporation entered into an agreement with Joeris General Contractors, a San Antonio based construction company, for the sale of the Koontz Construction commercial division. Pursuant to this agreement, Koontz Construction will suspend its commercial operations and third-party book of business to focus solely on multi-family construction for the Company’s development group. This transaction and the related transition is expected to be completed by the third quarter of 2016.