Our Firm

About Us

Capitol Market Research (CMR) is an Austin-based Texas corporation founded in 1986 to provide advisory services in real estate research, development feasibility, land use economics, and market analysis.


Daniel Almendariz and Camiel DeSmet

CMR conducts a wide range of studies, from comprehensive market feasibility studies for single-use and mixed-use development concepts, to studies informing public jurisdictions of build-out potential in special purpose districts, to forecasts of land value increments in transit-oriented development districts.

We are a firm of qualified professionals who bring recognized expertise in real estate market research and project feasibility analysis. CMR has considerable experience preparing market analysis for a variety of proposed real estate development products throughout the Austin and San Antonio region.

Our Practice Areas

  • Comprehensive market feasibility for single-use and mixed-use development
  • Build-out potential and value creation in special purpose districts
  • Land value increment forecasts in transit-oriented development districts

Our Team

Camiel DeSmet

Camiel DeSmet

President

Camiel joined CMR in 2017 after graduating from The University of Texas in Austin with degrees in government and IRG, where she worked in real estate throughout her undergraduate years. She specializes in multi-family, urban residential, commercial mixed-use, and infrastructure development.
In March 2025, Camiel was named President after holding several positions over nine years, playing a significant role in the company's development and vision. She has conducted feasibility analysis for over 400 studies including Downtown Austin Alliance PID Reauthorization, South Central Waterfront Redevelopment, Waller Creek TIF Boundary Expansion, Colony Park Master Plan, and Austin Green Tract — most recently working with Austin Transit Partnership on light rail implementation.

Daniel Armendariz

Daniel Armendariz

Vice President

Providing an extensive background in asset management and multi-family housing, Daniel's diverse experience includes roles with RPM Living, Skyline Management and DB Capital over the last eight years. From Community Managerto Regional Manager, he consistently maintained high occupancy rates, drafted policies to fuel rent growth, and elevated NOI. As a seasoned Director of Asset Management, Daniel adeptly guided teams across a portfolio of properties (Texas, California, Colorado and Utah) conducting audits, orchestrating successful CapEx projects, managing budgets, and nurturing investor relations through asset calls. Daniel holds a Bachelor of Arts in Philosophy from The University of Connecticut. His exceptional contributions earned him the 2021 Solt Award from the Austin Apartment Association, further complemented by his CAM (Certified Apartment Manager) certification in the same year. He is actively involved in the Austin real estate community, engaging with local and national organizations such as the Urban Land Institute and Real Estate Council of Austin. This involvement includes participation in committees dedicated to enhancing the city's landscape.

Davis Brooks

Davis Brooks

GIS Specialist

Davis joined CMR in 2021 after graduating from Texas State University. As lead for GIS analysis, he is responsible for all mapping throughout CMR feasibility studies, specializing in spatial analysis, cartography, and geoprocessing. BrooksGeoSpatial.com

Kathryn Heimsath

Kathryn Heimsath

Marketing Coordinator

A native Austinite, Kathryn grew up alongside the city's growth with Capitol Market Research as a constant presence. A graduate of NYU with a degree in creative arts, she went on to work in branding and marketing at GoDaddy for seven years, developing expertise in consumer behavior, brand development, and cross-functional team leadership.

In 2025 following the death of her father, founder Charles Heimsath, Kathryn stepped into the Marketing Coordinator role, to focus on branding, marketing, and visual communications, building on the firm's decades-long tradition of excellence as well as her love of photography and visual media, creating value for the next generation of business leaders.

Charles H. Heimsath

In Memoriam

Charles H. Heimsath

Founder (1951–2025)

Our firm's founder, Charles H. Heimsath, graduated from The University of Texas in 1976 with a Master of Science degree in Community and Regional Planning. Active in the Austin real estate market for over four decades — in urban planning, market and feasibility studies, and real estate research — he was widely regarded as Austin's foremost real estate analyst.

Between 1980 and 1983, Charles managed the real estate research division at the Rice Center in Houston. He then served as senior project manager at R. Robinson & Associates before founding Capitol Market Research in 1986. His studies guided clients in the successful transformation of project concepts into valuable assets until his death in March 2025.

Recent Clients

  • Roers Companies
  • United Properties Development
  • Pritchard Associates
  • PINTAR Investment Company
  • Paravel Capital, LLC
  • Keller Henderson Interiors
  • Northmarq Commercial Real Estate
  • Urbanspace Real Estate
  • Inland National Development Company
  • Empire Square Group
  • Concho Acquisition Partners
  • Downtown Austin Alliance
  • iLand Development Group
  • Cabo Resort Development Partners
  • AFIAA Real Estate Investment AG
  • Taurus Investment Holdings
  • LOC Consultants
  • Bonner Carrington
  • Urban Movement
  • Rhode Partners
  • Silverstein Capital Partners