Magnolia Fund HTX

We are Under Contract!

Erik Ibarra

Published on Apr 25

When one door closes, another one opens.

Earlier this month we announced our decision to not move forward with another property. Sometimes things happen so that better things can come to fruition. Today is that day, as we are officially under contract on the Dwinnell St. property. This is a fully built-out and operational commercial kitchen and exactly what we were looking for in a space!

The most amazing part of this property is that with a little paint and minor updates, we could be operational and open doors by late this summer 2025! Obviously, we need to take some time to ensure we verify and confirm our business and operational assumptions so we will be conducting a thorough and detailed diligence process.


Current condition of commercial kitchen


Next Steps

  • Next 60 days - We'll complete a thorough diligence process to evaluate the hood vents, walk-in cooler, freezer, HVAC, plumbing and electrical systems.
  • Next 90 days - We'll raise additional funds to make any updates to the property as well as purchase and or lease the required equipment needed.
  • We'll keep you updated every step of the way.


This is a huge milestone. While we have a long way to go, I'm so thankful for all the hard work our advisors and investors have put into this. Whether it was a quick call on a weekend or taking time away from running your restaurant to go visit this property, each and every one of you are the reason this is going to be a success. Thank you again for all the hard work and for your trust.


The hard work continues!


Best,


This is awesome. I’m hopeful and trusting in God that this will be a successful endeavor. Prayers and blessings.
Everything in these pictures looks great. Can't wait to join this investment before it closes